Is Gold’s Big Rally Over? Here Are Five Key Charts to Watch
- Bullion on course for lowest close since July as dollar climbs
- ETF assets in focus to see whether holders will cut positions
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Gold’s slump this week is forcing investors to ask whether the haven asset is taking a breather or facing an even sharper decline.
Unprecedented global stimulus, negative real rates and a weakening dollar pushed bullion to a record high above $2,075 an ounce in early August. While some banks, including Goldman Sachs Group Inc. and Bank of America Corp., forecast even higher prices, a resurgent dollar has seen gold give up some of its gains.