#qhtani #قحطاني 🚨 Shock in the gold market.. Bank of America expects a strong drop to $3700
Surprising forecasts from Bank of America shake the global markets:
🟠 In a striking report, the bank suggested that gold is entering a long sideways fluctuation phase, with potential declines reaching $3700 per ounce in the upcoming period 😳
Why might gold drop? The complete analysis 👇
🔸 The strength of the dollar is putting pressure on gold prices globally 💲
🔸 Rising interest rate expectations reduce the attractiveness of investing in gold
🔸 The outflow of liquidity from speculation has led to a clear decline in prices
Worrying signals in the market:
🟠 Gold and silver were in a state of overbought before the recent correction
🟠 Liquidation of massive buy positions intensified the decline
🟠 Notable decrease in demand from central banks
🟠 Some countries have started to reduce their purchases or turn to selling to cover the repercussions of global tensions
Technical outlook (most important for investors):
🔸 Gold has actually entered a correction wave that may last for several months
🔸 The $4000 level is considered a major support
🔻 Breaking it may open the door for further declines to lower levels
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