Gold Price Update: Weekly Decline Amid Hawkish Fed Signals
Market Outlook for Gold
Bearish Factors
- The Federal Reserve's hawkish stance continues to weigh on gold prices.
- Declining physical demand from India adds to the downside pressure.
Supportive Factors
- Ongoing geopolitical risks may lend some support to gold's safe-haven appeal.
Technical Levels to Watch
- Key Support: $2,550 per ounce – A break below this could trigger further downside.
- Key Resistance: $2,625 per ounce – A recovery above this level may signal stabilization.
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