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Analyzing Gold’s Narrow Trading Range: What’s Next for the Precious Metal?
video Uncertainty reigns as gold again trades within a narrow range. For the past five days it has been in consolidation around the 1,960-peak reached in February. So far, the low of the correction off the recent record high of 2,082 hit three weeks ago, is 1,952. That low completed a 6.2% decline. chart Downward pressure remains as gold has been unable to rise above the five-day high of 1,986 as it trades within a relatively narrow range. Resistance during the five days is also marked by the 50-Day EMA line (blue). Once price falls below the 50-Day line for the first time after being above it, the chance for ... (full story)
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The US Forest Service has halted progress on the creation of a Rio Tinto copper mine in Arizona after it informed a federal court that it does not have a timeline for the ...
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The gold market was largely unchanged following the release of the Federal Reserve’s May meeting minutes, which showed central bank officials split on whether more rate hikes were ...
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- Posted: May 24, 2023 5:41pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 386