Markets are resuming their thaw after the ceasefire between Israel and Iran, pushing GOLD prices down more than 2% intraday. The geopolitical squeeze is at least temporarily erasing the pro-growth factor that recently propelled the precious metal higher. From a technical perspective, today’s correction reaches the key level of the 50-day exponential moving average (blue line on the chart below), which has been an important zone supporting GOLD’s overall uptrend over the past few months.
Source: xStation
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