Gold has erased its earlier losses and is trading near unchanged in afternoon U.S. trading. Prices are stalling after Friday’s downside price action
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The US dollar did almost nothing against the Japanese yen during the day on Monday, testing the 111 level, but struggled a bit to overcome that barrier. The Australian dollar had a slightly negative session after volatile trading on Monday.
The WTI Crude Oil market fell during most of the session on Monday, but did bounce a bit from the $48.40 region. Natural gas markets rallied after gapping lower during the day on Monday, as the hammer from the Friday session has been broken to the upside.
The EUR/USD pair was very quiet on Monday, gaining very slightly after the significant selloff on Friday. The British pound was interesting during Monday, as we tested the 1.30 level.
The S&P 500 rallied during the day on Monday, breaking above the top of the shooting star like candle from Friday. The NASDAQ 100 rallied as well, and more importantly, closed near the highs of the day.
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Gold prices ended Monday nearly unchanged after a quiet session as investors await speeches from Federal Reserve officials.
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