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The XAU/USD exchange rate continued to trade sideways in the 1,860.00/1,890.00 range.

From the one hand, it is likely that yellow metal could gain support from the 55-hour moving average near 1,874.00. Thus, gold could appreciate against the US Dollar in the short run.

From the other hand, the exchange rate could face the resistance of the 100– and 200-hour SMAs in the 1,882.50/1,900.50 area. Thus, some downside potential could prevail in the market.

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