The ongoing trend of profit-taking and weak long liquidation continues to weigh heavily on the gold market, reports Kitco NEWS. Following an initial surge, the price of the precious metal experienced a downward shift that has left investors and market watchers alike concerned. Industry experts are attributing this decline to profit-taking maneuvers by investors who bought gold earlier when the prices were low and are now selling their holdings to reap substantial profits.
Additionally, weak long liquidation, which refers to the selling off of assets held for a long period, is another factor that’s contributing to this plunge in gold prices. This suggests that many market players who were once bullish on gold are now losing faith and moving towards liquidating their positions. Moving forward, the market dynamics for gold continue to remain unpredictable, thereby mandating a cautious approach for investors in the gold market. Read More
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