#goldfalls5.5%from3monthhigh
Hey gold lovers, are you okay? š
Gold just dropped by 5.5% from its highest level in 3 months to $4,697, falling below its 200-day moving average to around $4,436. Why? Because the Federal Reserveās hawkish whispers in Jackson Hole make interest rates look enticing againāpouring āsnowā over everyoneās favorite safe haven! š„¶
Has it bottomed out? No one knows for sure, but the big players are still greedy! Goldman Sachs remains committed to its ongoing year-end target of $4,900, while Fidelity says central banks are still secretly buying gold in a hysterical frenzy, as if it were out of style!
So what should traders do? Donāt try to catch a falling knife while youāre blindfolded! Gold is currently bleeding below $4,500. Wait for a strong consolidation or a reversal pattern. Keep some dry liquidity ready, manage leverage, and enjoy the show! šæ
Not financial advice!
Please keep following
#GoldPrice #FedRateHike #GoldManSachs
$PAXG
Hey gold lovers, are you okay? š
Gold just dropped by 5.5% from its highest level in 3 months to $4,697, falling below its 200-day moving average to around $4,436. Why? Because the Federal Reserveās hawkish whispers in Jackson Hole make interest rates look enticing againāpouring āsnowā over everyoneās favorite safe haven! š„¶
Has it bottomed out? No one knows for sure, but the big players are still greedy! Goldman Sachs remains committed to its ongoing year-end target of $4,900, while Fidelity says central banks are still secretly buying gold in a hysterical frenzy, as if it were out of style!
So what should traders do? Donāt try to catch a falling knife while youāre blindfolded! Gold is currently bleeding below $4,500. Wait for a strong consolidation or a reversal pattern. Keep some dry liquidity ready, manage leverage, and enjoy the show! šæ
Not financial advice!
Please keep following
#GoldPrice #FedRateHike #GoldManSachs
$PAXG
