$XAU Gold Reverses Sharply, Sheds Over $70 After Hitting $5,316 Peak
The precious metals market just witnessed a classic roller coaster ride, as the euphoria of breaking new highs had barely settled before fear struck with a dizzying crash, wiping out the session's gains.
🔹 Immediately after euphorically setting a new historic peak at $5,316/ounce, Gold prices instantly met massive selloff pressure at the psychological resistance zone, causing the price chart to nosedive.
🔸 The market recorded a deep plunge to $5,240, wiping out over $70 in a short period. This intense two-way volatility with extreme amplitude strikes a heavy blow, liquidating a series of leveraged positions chasing the hot FOMO rally.
After a brutal long squeeze wiping out $70, is this a dip buying opportunity for those who missed the train, or a warning signal that the uptrend has officially broken?
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