Gold Slips Below $2,670 Amid Inflation Concerns but Retains Weekly Gains
The chart highlights a bearish pennant pattern, with immediate support at $2,663. A break below this level could open the door to further downside, targeting $2,613. Conversely, sustained recovery above $2,693 may revive bullish momentum, with resistance at $2,726 remaining a key hurdle.
Despite the pullback, dovish sentiment from major central banks has supported gold enough to secure a small weekly gain, underscoring its appeal as a safe-haven asset amid economic uncertainty.
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