#XAU/USD# #GOLDTODAY# Gold is likely to move up in the short term amid the outlook for a weakening US dollar on the back of diminishing expectations for a 100 bps rate hike by the Federal Reserve in July with several FOMC members signaling they will raise interest rates by only 75 bps. Later today the market will look for a catalyst from the Existing Home Sales data at 21:00 WIB.
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