Spot gold falls but outlook is still bullish with prices hovering near a record peak
Bengaluru — Gold prices dipped on Thursday as investors holding long positions took profits after nine straight sessions of gains, though the outlook remained bullish with prices hovering near a record peak.
“All of this suggests that this is probably as good as it’s going to get for gold for the time being.” “In the short-term, the market could’ve been considered overbought and due for a correction,” said Kitco Metals senior analyst Jim Wyckoff, adding gold right now is seeing profit-taking by shorter-term futures traders.
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