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Gold prices breach $1600 for first time since August

Gold prices have recently fallen off during the late morning of European trading, after a failure to stabilize at the 1606 region has led to a steep selloff that took the yellow metal below the 1600 barrier for the first time since mid August 2012. At the time of writing, Gold is trading at USD $1592.35 per oz Wednesday, well below its 20, 50, and 200-day SMA.

Euro supported by German fundamentals

The shared currency found its way through the key barrier at 1.3400, pushed by positive prints and better investor mood after yesterday’s ZEW Survey in the first economy of the euro bloc. Today’s...
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Forex: USD/CAD in session highs, eyes on 1.0140

The Canadian dollar is extending its decline against the greenback on Wednesday, as investors are accelerating their exodus from high beta currencies and commodity-associated ones favouring safe havens...
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