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Commodities

Gold Price Set for August Breakout After Six Weeks of Consolidation

Guavy AI Editorial Team
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Gold
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The XAU/USD (gold price) has been in consolidation mode for six weeks and is now poised to break out in August, according to City Index UK.

GOLD PRICE FORECAST: XAU/USD

The gold price has been trading in a narrow range between $1,850 and $1,900 since mid-July. The recent consolidation suggests that the market is preparing for a significant move either upwards or downwards.

The Monetary Authority of Singapore regulates StoneX Financial Pte. Ltd., which offers dealing services in Contracts for Differences (CFDs). Trading in CFDs carries risks and may not be suitable for all investors, as losses can exceed deposits.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment advisor. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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