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Gold's rally suddenly hits a brake, with two signals triggering a sharp market adjustment.
First, let's look at the resistance side: The departure of hawkish Federal Reserve rate cut advocates like Hasset, strong economic data, and the retreat of funds previously betting heavily on rate cuts. Short-term fluctuations in gold prices are normal.
But don't be scared. The real support remains solid—global central banks are continuously buying gold. This is not short-term speculation but strategic positioning, building the strongest bottom line for gold.
The market script is being rewritten: shifting from rapid rise to oscillating upward.
The driving forces are switching. On one side, expectations of rate cuts are cooling down; on the other, central banks are increasing gold purchases and safe-haven demand is rising. The interplay of these two forces will determine the next trend.
Key points to watch are: every move in the Federal Reserve's data releases and the actual gold buying actions of global central banks. These two factors will decide the future direction.
The current question is—will it continue to rise after the phased adjustment? Or will the trend reverse, entering a long-term downtrend? What do you think?