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Investors took profits, causing gold prices to dip slightly as the market awaits U.S. economic data
Gold prices have pulled back as investors took profits and shifted their focus to key U.S. economic data due out this week. U.S. actions in Venezuela have injected a new wave of volatility into global markets, boosting the appeal of safe-haven assets this week. However, analysts at Sukden Financial noted: “While the broader structural outlook remains positive, particularly for silver, we expect gold prices at current levels to become increasingly sensitive to profit-taking and shifts in liquidity. Even with the medium-term trend still intact, there is room for a sharp but temporary pullback.”
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