Gold prices last night began to show signals that buying momentum is weakening, with wide-range sideways fluctuations of around 30–40 points.
This move is considered inevitable after gold prices surged strongly in recent days, driven by news related to conflicts in the Middle East and between the U.S. and Venezuela.
At present, these conflicts have gradually eased and no longer appear frequently, creating selling pressure from profit-taking investors on gold prices.
Today is Friday, the end of the week, and there is no particularly notable news except for the Fed’s speech scheduled for tonight.
Therefore, gold is likely to experience a strong corrective wave tonight if the Fed’s remarks do not contain any breakthrough information.
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