Gold buyers do not have enough power!! As the dollar gains strength and the real yield increases, more downward pressure will be applied to gold (but recession risks will eventually force traders to increase the percentage of gold in their portfolios), gold is expected to move in this downward channel. If it continues and loses the floor range of 1680-1700 before the next upward move and the completion of 5 Elliott waves, my prediction for gold is a weak bearish range with hesitant buyers at the main floors.
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