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XAU/USD Tests $1,930 Support Level – November 11 , 2023

Gold faced a sharp decline on Friday, triggering rapid price action into bearish territory, marked by a rejection from the 50-hour Simple Moving Average (SMA) at $1,965. XAU/USD closed the week with a complete downward trajectory, experiencing minimal support bids. The rejection from the 200-hour SMA early on Monday contributed to nearly a 3% weekly decline. On…

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