🇨🇳 China has disposed of one million ounces of gold! 🔥📉📊
⚠️ Reports indicate that China has sold a massive amount estimated at one million ounces of #gold! 🪙
⬅️ What does this mean for the market? 🤔
• This move comes after gold reached historical peaks recently (near $3500 as shown in the chart).
• The price has seen a decline and correction in recent days, now trading around $3200-3300.
• An increase in supply of this magnitude may put additional pressure on prices in the short term.
⬅️ Is this a change in trend?
• The chart shows a strong upward trend in the long term (since mid-2024) .. however, the recent decline with the news of the Chinese sale raises questions about the continuation of this rise with the same strength.