Jiangsu Zhenjiang Commodity Trading Center

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Standing above the daily moving average and gathering momentum below the daily moving average, the short-term moving average is still in a short position. The long-term moving average system also shows a bearish arrangement. From the perspective of technical indicators, the price of gold is trading sideways under certain support at the lower track of the Bollinger Bands, and there are signs of moving towards the middle track. Due to the excessive short-term decline, once gold truly stabilizes near the US dollar/ounce, gold may start a rebound upward.