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Gold (XAU/USD) plummeted below its 20-day & 50-day moving averages, and recorded a daily loss of 3.45% last Friday, 7 June; its worst daily performance since November 2020. The main negative catalyst has been a halt in China’s gold purchases in May after 18 consecutive months of buying through its official reserves. A further rebound […]

The post Gold Technical: On the Brink of a Potential Multi-Week Corrective Decline appeared first on Action Forex.

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