Gold defends key Fibonacci support after Fed's hawkish quarter-point hike - KITCO

Source: KITCO

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DW NOTE

Gold is off 17.5% from its January high while the Strait of Hormuz sits closed and the Fed just hiked into an accelerating deficit. The article calls this "defending support." It's called falling. Fibonacci levels don't change the fact that the metal dropped $932 per ounce in eight months while every textbook catalyst for a rally materialised.

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