Spot gold prices saw a notable rise during Wednesday's trading session, surpassing the $4,000 mark. The gold/US dollar pair climbed to $4,007.84 per ounce after a strong rebound from key support near $3,965, following a sharp decline from the all-time high of $4,381.60.
This rapid movement has injected vitality into the market, with immediate momentum indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) showing renewed buying activity. However, overbought indicators and warnings of a potential bearish reversal necessitate a high degree of caution in short-term trading.
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