GOLD

Gold

<div class="watcher-guru">
 <p>The price of gold climbed from a low of $1,978 and touched a high of $2,005 in November this month. Gold prices spiked double digits in three weeks going up by 18% in the charts. The precious metal is now at its March 2023 high and is attracting bullish sentiments in the indices. Gold is unable to hold above $2,000 leading to bearish price prediction.</p>
 <p>However, <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> faced rejection twice this month after climbing above the $2,000 mark. It slipped in price minutes after touching $2,005 on Wednesday and is now trading at $1,995. The yellow metal is finding it hard to break the $2,000 resistance mark opening the door for a price dip.</p>
 <p><strong>Also Read: Gold To Become Expensive &amp; Reach $3,000: Best Time To Invest?</strong></p>
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 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="737" src="https://cdn.thebittimes.com/images/2023/11/23/eab11c78a3c4ce87f1b06e83fd03f653.webp" alt class="wp-image-119857" srcset="https://cdn.thebittimes.com/images/2023/11/23/eab11c78a3c4ce87f1b06e83fd03f653.webp 1024w, https://cdn.thebittimes.com/images/2023/11/23/eab11c78a3c4ce87f1b06e83fd03f653.webp 300w, https://cdn.thebittimes.com/images/2023/11/23/eab11c78a3c4ce87f1b06e83fd03f653.webp 768w, https://cdn.thebittimes.com/images/2023/11/23/eab11c78a3c4ce87f1b06e83fd03f653.webp 380w, https://cdn.thebittimes.com/images/2023/11/23/eab11c78a3c4ce87f1b06e83fd03f653.webp 550w, https://cdn.thebittimes.com/images/2023/11/23/eab11c78a3c4ce87f1b06e83fd03f653.webp 800w, https://cdn.thebittimes.com/images/2023/11/23/eab11c78a3c4ce87f1b06e83fd03f653.webp 1157w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: Investing.com
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 <h2 class="wp-block-heading" id="h-gold-price-prediction-a-dip-might-be-on-the-cards-after-2-000-rejection">Gold Price Prediction: A Dip Might Be on the Cards After $2,000 Rejection</h2>
 <figure class="wp-block-image size-full"><img decoding="async" width="956" height="636" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="usd dollar gold" class="wp-image-86061 ewww_webp" sizes="(max-width: 956px) 100vw, 956px" data-src-img="https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp.webp 956w, https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp.webp 300w, https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp.webp 768w, https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp.webp 380w, https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp.webp 550w, https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp.webp 800w" data-srcset-img="https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp 956w, https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp 300w, https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp 768w, https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp 380w, https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp 550w, https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp 800w" data-eio="j">
  <noscript><img decoding="async" width="956" height="636" src="https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp" alt="usd dollar gold" class="wp-image-86061" srcset="https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp 956w, https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp 300w, https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp 768w, https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp 380w, https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp 550w, https://cdn.thebittimes.com/images/2023/11/23/fad1d62bf4ee213c621617cdb9e5a1c3.webp 800w" sizes="(max-width: 956px) 100vw, 956px">
  </noscript>
  <figcaption class="wp-element-caption">
   Source: Freepik.com
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 </figure>
 <p>Gold rallied hard this month and a rejection at the $2,000 level indicates there’s room for a downward trajectory. Investors are indulging in profit booking and the large sell-off is causing a slump in the charts. The commodity delivered stellar returns in Q4 of 2023 and institutional investors are jumping ship in fears of a slump.</p>
 <p><strong>Also Read: <a rel="noopener noreferrer nofollow" title="Gold Prices" href="https://thebittimes.com/tag/gold-prices.html">Gold Prices</a> Forecasted To Rise 50% In 2024, Reach $3,000</strong></p>
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 <p>From a technical perspective, <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> prices continue to throw mixed signals as the moving averages show a <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a>en cross pattern. The 50-day MA is attempting to cross above the 100-day MA and indicates an upside swing that could contradict the rally as the candle closes.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="480" src="https://cdn.thebittimes.com/images/2023/11/23/fb6e632d76af222df6eb1f2921abde0b.webp" alt class="wp-image-119856" srcset="https://cdn.thebittimes.com/images/2023/11/23/fb6e632d76af222df6eb1f2921abde0b.webp 1024w, https://cdn.thebittimes.com/images/2023/11/23/fb6e632d76af222df6eb1f2921abde0b.webp 300w, https://cdn.thebittimes.com/images/2023/11/23/fb6e632d76af222df6eb1f2921abde0b.webp 768w, https://cdn.thebittimes.com/images/2023/11/23/fb6e632d76af222df6eb1f2921abde0b.webp 1536w, https://cdn.thebittimes.com/images/2023/11/23/fb6e632d76af222df6eb1f2921abde0b.webp 380w, https://cdn.thebittimes.com/images/2023/11/23/fb6e632d76af222df6eb1f2921abde0b.webp 550w, https://cdn.thebittimes.com/images/2023/11/23/fb6e632d76af222df6eb1f2921abde0b.webp 800w, https://cdn.thebittimes.com/images/2023/11/23/fb6e632d76af222df6eb1f2921abde0b.webp 1160w, https://cdn.thebittimes.com/images/2023/11/23/fb6e632d76af222df6eb1f2921abde0b.webp 1835w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: DailyFX.com
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 </figure>
 <p>Therefore, <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> could spike but quickly retrace in price after reaching the $2,000 level. Another leg-up at the moment might be challenging as the precious metal is already up nearly 18% in 3 weeks. The support level for <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> prices during the next downturn is the $1,983 level. If the prices break the resistance, the next support level is $1,968.</p>
 <p><strong>Also Read: <a rel="noopener noreferrer nofollow" title="Gold Prices" href="https://thebittimes.com/tag/gold-prices.html">Gold Prices</a> Skyrocket 15 Points Before Fed Meeting</strong></p>
 <p>If the commodity markets experience a slump, then gold prices could find resistance at the $1,950 level. In conclusion, gold’s inability to hold strong above the $2,000 price mark opens the door for a possible dip in the coming weeks.</p>
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<div class="cs-entry__tags">
 <ul>
  <li>GOLD</li>
  <li>Gold Price Prediction</li>
  <li>Gold Prices</li>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/gold-price-prediction-rejection-at-2-000-opens-the-door-for-a-dip-tbt71308.html">https://thebittimes.com/gold-price-prediction-rejection-at-2-000-opens-the-door-for-a-dip-tbt71308.html</a></p>

Gold Price Prediction: Rejection at $2,000 Opens the Door for a Dip

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