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Friday, March 5, 2021

Gold Testing Key Support

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Will gold bounce and resume its bullish trend or break down and drop like a stone?

Gold, which has been correlating more positively than negatively with the S&P 500 over the past few years, has fallen along with technology stocks in recent days.

The dollar has also bounced back, and this has provided additional pressure.

However, bond yields remain low and for that reason, I am expecting gold to remain supported in the long term.

In the short term, it has a chance to push higher as the metal tests a key technical support area, as I have discussed in this video:

The original post can be found here.

Gold Testing Key Support

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