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James Stanley: Gold breaks three-week sell-off streak as support holds at $4100

James Stanley: Gold breaks three-week sell-off streak as support holds at $4100
Gold support holds as sell-off ends

Gold ended its three-week sell-off streak with a weekly doji candle, closing up a marginal 0.03 percent. James Stanley highlighted that this modest rebound came as support held firm at the $4100 level. The stabilization marks a notable shift in pace considering the aggressive losses seen in stocks over the same period.

Stanley had previously reported that gold fell 26.8 percent from its peak to trough, highlighting $4500 and $4600 as significant technical levels in recent trading here. He also drew attention to the S&P 500 approaching key support, with oil prices above $100 serving as a major variable for equity markets here. These earlier moves provide context for gold's recent stabilization.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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