đą GOLD UPDATE đ„
âGold's incredible, record-breaking rally hit a snag on Tuesday, suffering its worst single-day drop in 12 years!
âThe historic run cracked as prices fell sharply, largely due to profit-taking and technical signals flashing overbought conditions.
âHowever, the story is far from over. One prominent private Swiss bank, Lombard Odier, is maintaining a bullish stance. They argue that the correction is a buying opportunity, with long-term factors still heavily supporting the yellow metal:
âCentral Bank Demand: Official-sector buying is expected to continue, creating a "higher gold floor."
âMacro Uncertainty: Geopolitical and fiscal risks remain conducive to further gold demand.
âConstrained Supply: Underlying supply-and-demand dynamics remain solid.
âThe bank has even raised its 12-month gold price target!
âIs this a healthy correction, or the beginning of a bigger pullback? Time will tell, but the long-term fundamentals still look golden.
â#GOLD_UPDATE #Gold #XAUUSD #PreciousMetals #MarketCorrectionBuyOrHODL