BULLISH !

Gold managed to regain some positive traction on Wednesday and recover a part of the overnight losses to the lowest level since August 11. The XAU/USD held on to its modest intraday gains through the early European session and was last seen hovering near daily tops, around the $1,740 region. A modest pullback in the US Treasury bond yields kept the US dollar bulls on the defensive and extended some support to the non-yielding yellow metal. However, a solid recovery in the global equity markets could act as a headwind for the safe-haven precious metal.
Chart Patterns

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