GOLD: Long Term Analysis & Intraday Forecast

Gold prices fell on Monday as the U.S. dollar and Treasury yields surged after a robust jobs report crushed expectations of near-term interest rate cuts from the Federal Reserve.

“Large speculators and managed funds trimmed long exposure to gold futures for a fourth week … and with Jerome Powell reiterating three rate cuts for the year, it remains debatable as to whether gold can rally from here,” said Matt Simpson, a senior analyst at City Index.

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