Gold Dips After Rally: Is This the Perfect Buy Opportunity?
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Hello wonderful friends!
Today, gold prices are showing signs of correction after a period of strong growth, currently hovering around the support level of 2750 USD. Profit-taking pressure after the recent surge has dragged gold prices lower, but the precious metal has maintained its growth momentum for the fourth consecutive month thanks to safe-haven demand.
In Ben's view, gold may enter a consolidation phase, fluctuating between 2750 - 2716 USD before entering a tense period with the US election and the important Fed meeting. Moreover, geopolitical factors and uncertainty ahead of the election results will continue to support gold, while investors seem to be taking advantage of the opportunity to "buy on correction".
Today, gold prices are showing signs of correction after a period of strong growth, currently hovering around the support level of 2750 USD. Profit-taking pressure after the recent surge has dragged gold prices lower, but the precious metal has maintained its growth momentum for the fourth consecutive month thanks to safe-haven demand.
In Ben's view, gold may enter a consolidation phase, fluctuating between 2750 - 2716 USD before entering a tense period with the US election and the important Fed meeting. Moreover, geopolitical factors and uncertainty ahead of the election results will continue to support gold, while investors seem to be taking advantage of the opportunity to "buy on correction".
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