GOLD - A countertrend correction before the trend resumes CAPITALCOM:XAUUSD is bouncing from 4,065 and forming a counter-trend correction. The support zone remains relevant, as does the medium-term bearish trend.
The dollar remains strong, oil prices are rising, and the fundamental backdrop is weak, which is putting overall pressure on the metal
Gold is attempting to recover but remains under pressure from elevated yields and the Fed’s hawkish stance. Support is coming from buying on dips and longer-term factors. The focus is on jobless claims da
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