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Kitco

Wall Street exits as gold falls below $3,900/oz; Main Street keeps bullish majority bias as midterms, payrolls loom

AI Market Summary
The Fed held rates at 3.75%-4.00% with two hawkish dissents, supporting the dollar and deepening a tech-led selloff that forced gold liquidations. Gold failed above $4,080 and broke below $4,000 and $3,900, signaling deteriorating momentum. Near-term pressure persists across precious metals and risk assets as markets await payrolls and midterms.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT-0.02%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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The Federal Reserve held interest rates steady. A stronger dollar and a selloff in technology stocks triggered liquidation in precious metals. Gold reached a weekly high of $4,082.50 an ounce before retreating.
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