Hello everyone! Today, gold prices are trading near $2400, reversing from a five-day high of $2418 achieved earlier in the Asian session. Despite a slight pullback, gold remains on track for its fifth consecutive week of gains.
XAU/USD has regained momentum, approaching the $2400 mark and indicating some short-term consolidation. Technical indicators have retreated from extreme overbought levels, suggesting potential short-term declines. However, a significant downturn seems unlikely as XAU/USD continues to strengthen its moving averages, benefiting buyers.
XAU/USD has regained momentum, approaching the $2400 mark and indicating some short-term consolidation. Technical indicators have retreated from extreme overbought levels, suggesting potential short-term declines. However, a significant downturn seems unlikely as XAU/USD continues to strengthen its moving averages, benefiting buyers.
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