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Gold wrap: Can the US dollar give gold bugs a break?
It’s been a tough few months for gold bugs, with the yellow having fallen for four consecutive months - and less than two trading days from its fifth. But perhaps that is a sign that it is due some mean reversion, or for its pace of selling to at least recede. A quick glance at the ‘consecutive candle count’ indicator shows that such sequences don’t appear too often, so we could be approaching an ‘up’ month. 1676 has so far proven to be a reliable support level since 2021, with last month’s candle forming a bullish hammer. And another glimmer of hope for gold bugs could be that the US dollar index (DXY) ... (full story)