Gold rises on Fed rate cut bets, safe-haven flows

💡 DMK Insight

Gold’s bounce above $4,350 is crucial after a steep 4.5% drop—here’s why. The recent sell-off marked gold’s largest single-day loss since October, raising concerns about market sentiment and potential volatility. This recovery could signal a short-term buying opportunity, especially if it holds above the $4,350 level, which now acts as a key support. Traders should watch for resistance around $4,400; a break above could indicate a more sustained rally. Conversely, if gold fails to maintain this level, it might trigger further selling pressure, especially from retail traders looking to cut losses. It’s also worth noting that this price action could ripple through related assets like silver and platinum, which often move in tandem with gold. If gold stabilizes, we might see similar recoveries in these markets. Keep an eye on the daily chart for signs of consolidation or reversal patterns, as they could provide clues about the next moves in this volatile environment.