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Gold prices seem to have found support base, for now
Gold prices have recently found strong support around the $2,290 mark, leading to a notable rebound propelled by the weakening US dollar, which followed the release of adverse economic data. Gold peaked at $2,334 per ounce and showcased resilience amidst currency fluctuations. A careful analysis of the four-hour time frame chart, particularly the Stochastic indicator, reveals a prevailing negative pressure from the simple moving averages and corroborating bearish signals, experts said. “These indicators suggest that the ongoing downward correction may continue. The persistence below the pivotal ... (full story)