Reported about 10 hours ago
Gold is experiencing a notable sell-off, pulling back around 8% from recent highs, and analysts suggest it could be on the verge of a 10% correction. This downturn is attributed primarily to technical factors rather than macroeconomic or geopolitical events. With past trends indicating that significant price movements often continue, the critical level to watch is around $4,000, below which further declines may occur. While the gold market's performance doesn't necessarily impact the much larger equities market directly, these developments in precious metals could shape investor sentiment.
Source: YAHOO