#goldfalls5.5%from3monthhigh
🥶 THE GOLD HAS JUST BURST—BUT THE STORY IS NOT OVER
Gold dropped by about 5.5% from its 3-month high, close to $4,697, falling back below the 200-day moving average to around $4,436.
So what explains the move? 👀
Fed officials, with a firmer tone at Jackson Hole, pushed up rate expectations, putting pressure on non-yielding assets like gold.
But here’s the interesting part:
🏦 Goldman Sachs still sees $4,900 by year-end
🌍 Central banks keep adding gold
📉 Gold is now trading below $4,500
So: is the decline over… or is there more downside?
Nobody knows.
Rather than grabbing a falling knife, I’m watching for a consolidation phase, a clear reversal, and confirmation through price action.
🍿 In the meantime, volatility will rule.
#goldprice #Fed #JacksonHole #Trading
$XAU
$ONG
$USELESS
🥶 THE GOLD HAS JUST BURST—BUT THE STORY IS NOT OVER
Gold dropped by about 5.5% from its 3-month high, close to $4,697, falling back below the 200-day moving average to around $4,436.
So what explains the move? 👀
Fed officials, with a firmer tone at Jackson Hole, pushed up rate expectations, putting pressure on non-yielding assets like gold.
But here’s the interesting part:
🏦 Goldman Sachs still sees $4,900 by year-end
🌍 Central banks keep adding gold
📉 Gold is now trading below $4,500
So: is the decline over… or is there more downside?
Nobody knows.
Rather than grabbing a falling knife, I’m watching for a consolidation phase, a clear reversal, and confirmation through price action.
🍿 In the meantime, volatility will rule.
#goldprice #Fed #JacksonHole #Trading
$XAU
$ONG
$USELESS
