Is currently undergoing a corrective phase, and there are indications that the price could potentially decline further. There’s a possibility that SOL might…
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Gold Price Forecast: Key Test as Price Rebounds to Former Support - Levels for XAU/USD Advertisement
Gold Price Outlook:
Gold prices have rallied sharply in recent days, but they’re not in the clear just yet.
Gold prices are struggling to climb back above their daily 5-, 8-, 13-, and 21-EMA envelope, which remains in bearish sequential order.
According to the IG Client Sentiment Index, gold prices have a mixed bias.
Gold Prices Bounce, but is it Believable?
Gold prices lost key technical support last week, but bulls aren’t ready to throw in the towel just yet. With US President Joe Biden’s $1.9 trillion fiscal stimulus plan moving closer to fruition, precious metals have been bid higher as the entrenched regime of low interest rates and climbing deficits and debts doesn’t appear to be going anywhere. But even as gold prices have rallied sharply in the past few days, bullion is not in the clear just yet. Testing the backside of former support (now re