Gold Breaks Below 50-Day Average
On Friday, spot gold extended its pullback—testing the $3,341.10 mark, which represents its 50-day moving average—after breaking below the short-term pivot of $3,347.97.
Strength in the U.S. dollar and higher Treasury yields, coupled with renewed confidence in risk assets, prompted investors to trim their bullion positions.
Technical indicators now point to a potential slide toward $3,310.48 if gold fails to hold the 50-day line, though a rebound above $3,347.97 could stabilize prices.
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