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XAUUSD Intraday Analysis

XAUUSD (1345.08): Gold prices fell sharply on the day and erased the gains from Monday with the daily candlestick closing with a bearish engulfing pattern. This could potentially suggest some near term declines in price. The failure to clear the 1345 handle could push gold prices lower to test the 1336 level of support initially followed by a decline toward the 1328 region.

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