Gold retreats from its newly set record high of $2,265.58 per troy ounce. Initially gaining in the Asian trading hours, XAU/USD reversed its course during European trades, now hovering around the $2,250 mark, bolstered by the US dollar's surge following better-than-expected US ISM Manufacturing PMI results.
Technical analysis suggests gold may undergo further adjustments today and in the near future as it confirms the formation of a peak. The correction following its robust rise aligns with the natural cycle of market waves, indicating no cause for alarm. Let's strategically sell with the market's flow and watch gold recalibrate to its next phase!
Technical analysis suggests gold may undergo further adjustments today and in the near future as it confirms the formation of a peak. The correction following its robust rise aligns with the natural cycle of market waves, indicating no cause for alarm. Let's strategically sell with the market's flow and watch gold recalibrate to its next phase!
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