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Movements in the Gold futures contracts since Jan. 19, 2023, indicate a reversal as the gold futures continue to struggle below $1937.40 to find a breakout above the significant resistance at $1950.
On Friday, despite the PCE index coming in line, gold futures found exhaustion which was already there since last Wednesday, as the gold futures could not find a breakout above $1950.
Undoubtedly, the traders were expecting a breakout above this significant resistance till the PCE numbers came on Friday.
Now, the focus has tilted towards the next rate decision on Feb. 1 as the experts believe that the Federal Reserve could announce a small hike.
Concerns over the banking sector have led to a move towards safe haven assets and gold has clearly benefited from this. While we see a short-term pullback in prices, we expect...
In my previous article, I noted the presence of extreme indecisiveness among traders on March 19th as natural gas futures continued to slide and hit a low of $2.218 on Monday. The...
Oil Oil prices are stable today after suffering significant losses as investors worried about the financial crisis's spillover impact. We are still not out of the woods, and it...
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