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Gold Forecast: Market Faces Hesitation with Bond Market and US Dollar Strength
The gold market witnessed a hesitant trading session on Friday, initially attempting to rally before succumbing to the pressures of higher rates in the bond markets and the strengthening US dollar. While the negative correlation between the US dollar and gold seemed to diminish, it is now making a full comeback. Despite these challenges, the market's uptrend line continues to provide crucial support, attracting significant interest from buyers. Gold's traditional role as a wealth preservation asset remains compelling for many investors. However, the recent spike in interest rates poses a hurdle for gold due to its ... (full story)