Gold bulls took profits and lost market control after the correction? Analysts said that there has been no major reversal in the upward trend, and it is necessary to focus on the gains and losses of this level.
On October 31st, after the price of gold rose to a new high, some traders took profits, causing gold prices to fall back. The price of gold fell as much as 2% to a low of $2,731. This follows the release of strong economic data in the United States, which increases the possibility that the Federal Reserve will cautiously cut interest rates in the coming months. In addition, PCE data showed that headline inflation was at an annual rate of 2.1%, the lowest level since the beginning of 2021 and jus...