The yellow metal’s pullback looks strange amid the market’s confidence about the Fed’s upcoming rate cuts. Could gold just be dropping insecure buyers? Let’s discuss it and make a trading plan for XAUUSD.
Highlights and key points
Strong US GDP data accelerated the precious metal’s pullback.
A decrease in Chinese demand drives the downward trend in the XAUUSD.
Regardless of who becomes the American president, gold will win.
A return above $2,410 per ounce will not be the only reason for buying gold.
Weekly fundamental forecast for gold
What’s happening to gold? A week ago, it reached a record high… Read full author’s opinion and review in blog of #LiteFinance
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