XAUUSD Gold professional analysis

During the Asian market on Wednesday, spot gold suddenly accelerated its short-term decline, with the price of gold just falling below $2,025 per ounce.
Gold prices lack clear directional strength, although a recent test of the $2,000/oz area suggests buyers are willing to defend that level. The daily chart shows gold prices retreating sharply after approaching a bearish 20-day simple moving average near $2,040.30 an ounce. The long-term moving average remains below current gold price levels, lacking directional strength. Finally, technical indicators edged higher but remained negative, not enough to signal a stronger recovery in gold prices.

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