Gold prices took a sharp turn on Thursday, plummeting from a high of $3,375. This movement created a bearish engulfing pattern, suggesting that sellers are gaining control in the market. Analysts now focus on critical support levels between $3,300 and $3,268. A significant breakdown below these levels could drive prices targeting $3,159.

Understanding the current market patterns is essential for traders looking to navigate these fluctuations. As gold prices react to economic data, strategic decisions are crucial for maintaining profitable positions.

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