Gold Technical Analysis – The price is near a key support zone ...Middle East

Fundamental OverviewGold had a really bad Friday last week as it suffered one of its worst days in several months. The reason for the selloff was due to two strong catalysts. The first one hit in the European session when we got the headline that China halted its reserve buying. This has been the prevailing market narrative for the strong gains in the past months, so it weighed on the price as market participants retrenched. Then, in the US session, we got a strong NFP report that saw the market repricing once again interest rates expectations on the more hawkish side and real yields spiked to the upside taking gold downward with them. The sentiment in the gold market is now a bit soft, so w

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