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Gold dips to $2957 and reclaims $3000 amidst recovery rally.
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Trump Tariff shrugs off selling pressure as safe haven demand resurfaces.
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Immediate support $2995 supports recocery eyeing $3023 & $3038
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Current bounce back rally is correctional move after sell off.
As Gold witnessed a sharp sell off to $2957, a follow up recovery rally fuelled by safe haven demand helped the metal reclaim the psychological perch $3000 advancing to $3017 triggered by Trump Tariff war announcing new inputs.
The sell off is impulsive and current recovery rally is part of correctional move that may witness Gold prices recovering to $3023 followed by $3034
The next resistance may come at $3054-$3058
Local demand zone is seen actively supporting recovery attempts at $3000-$2995 as well as $2988
The views of the article are based on price action studies, technical analysis and chart-based studies. The author does not hold positions on items he writes about. The views expressed are for educational purposes and are not trading advice.
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