3.18 Gold Commentary: The 5000 Level Under Repeated Contention, Consolidation Awaiting Direction
Gold has recently seen intense long-short positioning battles, with repeated tug-of-war centered around the 5000 level. Following yesterday's opening lower in Asian session, the price rallied during consolidation, with European session extending the rebound momentum and reaching a high near 5044; the early morning saw rapid downside probing, bottoming near 4973 before stabilizing, and subsequently bouncing back to hover around 5000 again.
Currently, the market has stabilized after bottom-finding, b
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