Gold's Powerful Price Reversal on the Way?

Despite a drop in today’s pre-market trading, gold’s recent dramatic weekly reversal remains a key context. This reversal, characterized by gold skyrocketing above $2,100 and then plunging to nearly $2,000 on significant volume, marks one of the most notable weekly shifts in years. It echoes similar reversals seen in May 2023 and March 2022, both of which initiated major declines. The significance of this reversal, amidst day-to-day price fluctuations, cannot be overstated and is expected to heavily influence gold’s trajectory in the coming weeks.

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