Gold prices fell to a one-week low on Thursday, marking the third consecutive session of decline. This drop is attributed to profit-taking following the release of the Federal Reserve's latest meeting minutes, which suggested that interest rates would remain elevated for a longer period.
Technical Analysis of Gold:
The price of gold declined after breaching the 2410 level, hitting our previously mentioned targets.
Currently, gold maintains a bearish outlook, likely to reach 2354 and 2344 due to the ongoing high inflation rates addressed by the Federal Reserve.
However, if the price stabilizes above 2369 and closes a 4-hour candle above this level, it may attempt to reach 2388.
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