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Gold Pauses After $4K Surge

From vtmarkets.com

Gold retreated slightly on Thursday, falling 0.2% to $4,029.86 per ounce by 0642 GMT, after reaching an unprecedented $4,059.05 on Wednesday. The pullback came as investors booked profits following a record-setting rally driven by economic uncertainty, geopolitical risk, and expectations of further Federal Reserve rate cuts this year. {tweet} U.S. gold futures for December delivery slipped 0.6% to $4,047.80, while spot prices hovered near historic highs, holding comfortably above the $4,000 level. Minutes from the September 16–17 Fed meeting revealed that policymakers acknowledged growing risks to the U.S. labour ... (full story)

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  • Category: Technical Analysis