The gold market is experiencing volatility, with initial gains on Wednesday being reversed. Despite this, the overall trend remains bullish, with significant support around $2,400 and potential for reaching $2,500. Factors supporting gold include geopolitical concerns, expectations of global central bank rate cuts, and continued gold purchases by central banks. The market is viewed as a “buy on the dip” opportunity, with pullbacks seen as potential entry points for investors. While short-term fluctuations are expected, the long-term momentum favors an upward trajectory, making gold an attractive investment for those willing to navigate its current volatility.
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