Welcome, dear friends, to our exploration of the tranquil waters of the gold market yesterday, where prices gently oscillated around Friday's closing figure of approximately $2159, in a serene anticipation of significant news expected to break on Thursday.
Gold remains ensconced in its downward trend, encased within an unbroken parallel channel that signals the potential for further decline upon reaching the channel's upper boundary.
Amongst whispers, the persistent pressure on this precious metal continues, stemming from expectations that the Fed might maintain higher interest rates for an extended period. Should the support level at $2147 give way, we might witness gold gracefully gliding back into the $212x region.
Gold remains ensconced in its downward trend, encased within an unbroken parallel channel that signals the potential for further decline upon reaching the channel's upper boundary.
Amongst whispers, the persistent pressure on this precious metal continues, stemming from expectations that the Fed might maintain higher interest rates for an extended period. Should the support level at $2147 give way, we might witness gold gracefully gliding back into the $212x region.
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