Bullishness in gold is highly expected for several reasons:
1. It is the month of December, which has lower volume, making it susceptible to manipulation by institutions.
2. Fundamentals favoring XAUUSD, such as CPI and cuts in interest rates by the Fed, contribute to the expected bullishness.
3. The market has already reached a new high at 2148 and...
Gold has touched 1992 with a deficient volume. How can someone expect that it would go above 2020? There is a possibility that the market will show a bullish move and might close above 2000 in the upcoming days to trap retailers. After buying, big INSTITUTIONS will be ready to short and would lead the market to 1888 levels.
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Gold is seeking for Big Players to short and to trap buyers from here. Retailers are trying to push gold above 1980 and even above 2000 but they(MM) have some other plans. Retailers did not come out from the mindset of buying, but there is still a chance for buyers if war escalates.
Fundamentally and Technically gold is down.
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Gold is in a bearish trend and CPI news is expected to be lower. If it comes in favor of gold then we might see the 1968-1974 level as a potential sell entry in the longer run.
