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What drives the gold and silver correction?
Gold’s aggressive rally since the mid-February low is currently being challenged with bullion suffering a long overdue and relatively aggressive, but healthy correction, which will help determine the real level of underlying demand besides momentum and managed money accounts who normally trade with a short-term focus and will reduce longs should the technical and/or fundamental picture change. Having rallied by almost USD 450 from the mid-February low, the correction currently unfolding risks being relatively brutal and will likely challenge traders' belief that further gains are possible. From a technical ... (full story)
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- Posted: Apr 23, 2024 8:36am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 303
