Gold Rebounds as Dollar Declines and Yields Stabilize
The dollar has been declining for three consecutive days, reaching its highest value in almost a year before dropping. A doji candlestick pattern has emerged, indicating a potential trend reversal or market consolidation. Gold futures have been pressured lower by the recent dollar strength but may see a rebound if the trend continues. Both Eastern and Western technical analysis suggest that gold is oversold, with indicators pointing to a potential key reversal. The most active December contract of gold futures has gained $13.40, reaching $1845.20, and further buying next week could confirm the key reversal.