Gold Buyers Gain Momentum as Seasonal Trends Approach
Gold traders are seeing renewed interest as the precious metal recovers from a shaky start to the week. Early declines did not breach the $2,600 mark, prompting buyers to step in just above the 38.2 Fibonacci retracement level established in last week’s rebound. Current market trends suggest a potential seasonal tailwind that could favor gold as the year draws to a close. With holiday shopping approaching and potential demand from festive celebrations, this could enhance market activity for gold buyers. Investors should monitor these seasonal patterns alongside geopolitical indicators to capitalize on upcoming opportunities.
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