๐จ GOLD PLUMMETS โ Worst Single-Day Drop in 12 Years! ๐ฅ๐
Gold prices plunged sharply, stunning global markets and safe-haven investors alike, after months of relentless rallying. The crash is attributed to profit-taking, a stronger U.S. dollar, and rising Treasury yields ยน ยฒ ยณ.
*Key Factors Behind the Crash:*
- _Central Bank Accumulation_: Ongoing gold buying by central banks worldwide
- _Geopolitical Uncertainty_: Persistent global conflicts and trade tensions
- _Inflation Hedge Demand_: Investors seeking protection against inflation
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*Technical Analysis:*
- RSI readings indicated "overbought" conditions before the fall
- Algo-driven sell orders accelerated the decline
- Billions in gold ETF positions were liquidated overnight
*Outlook:*
Major banks and analysts predict gold will rebound, citing โถ ยน ยณ:
- Persistent inflationary pressure
- Continued central bank buying
- Ongoing global de-dollarization trends
*Key Support Level:*
$4,000 remains crucial; below that, sentiment could sour further ยน โต.