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Gold suddenly encounters a sharp pullback, the reason is here! Gold prices plunged by 15 dollars during the day. How to Trade Gold?
On Friday, in the late Asian market, spot Gold rapidly declined, with the price recently dropping to around $2924 per ounce, a daily decrease of $15. FXStreet Analyst Haresh Menghani pointed out that the overbought conditions in the technical aspect prompted traders to take profits, leading to the Gold price's Top Reversal from its historical highs.
Gold is brewing for the next big surge! The heavyweight data from the USA is coming. FXStreet's chief Analyst provides a technical analysis of Gold.
On Friday during the Asian market, spot Gold showed significant fluctuations, with prices approaching $2950 per ounce, nearing historical highs; subsequently, the price returned to around $2940 per ounce. FXStreet's chief Analyst Valeria Bednarik noted that Gold prices are continuously seeking buyers at lower levels and may record higher peaks before the end of this week.
Technical Liu report: Pay attention to the directional choice of Gold as the US dollar approaches the pivot point.
Silver approaches the dividing point between bullish and bearish, WTI crude oil encounters resistance and falls back, the EUR/USD maintains a bullish pattern, and the GBP/USD focuses on the first resistance...
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