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3:35 PM ยท 21 March 2025

Gold dips 1.3% ๐Ÿ“‰

Gold and other precious metals are losing ground today as the Triple Witching Day increases volatility (volume) and encourages some profit-taking after a significant rally in this instrument.

Gold has risen 16% this year in a rally that has reached 15 record levels in 2025, extending last year’s strong gains fueled by global geopolitical uncertainties.

The so-called Triple Witching Day, which falls today, offers large traders and funds opportunities to profit from this precious metal thanks to the high liquidity of the market. Repositioning into the new quarter will show how many holders of gold-based contracts will extend their positions at current prices.

However, the current declines do not change the foundations of the long-term uptrend. There is a large space of close to 4.3% to the important technical point marked by the 50-day EMA (blue line). The key resistance point remains the record gold price level of $3,057 per ounce. Source: xStation

 

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