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GOLD PLUNGE SHOCKER: Price CRASHES to $3,346 per Ounce!
Hold onto your seats, gold bugs! The precious metal has taken a nosedive, falling to a startling $3,346 per troy ounce, breaking what seemed like an unbreakable upward trend! What’s behind this dramatic twist? A tense phone call between the U.S. and the EU reveals the simmering trade tensions threatening to boil over!
TARIFF TURMOIL! Trump’s Delay Shuts Down Gold’s SPARK!
In a jaw-dropping announcement, President Trump decided to postpone a whopping 50% tariff on European goods! Originally set to go into effect on June 1st, the new deadline is now July 9th, giving negotiators just a sliver of time before chaos reigns!
But don’t get too comfortable just yet! The looming specter of tariffs hangs over the market like a dark cloud. Recently, Trump fired a warning shot at Apple, stating their products could face a monster 25% tariff if iPhones are built offshore. Yikes!
Just last week, gold shot up nearly 5% as uncertainties about trade and the U.S. economy spiked! But now? It’s a rollercoaster ride, folks!
$3 TRILLION DANGER! Tax Bill Ramps Up Budget Fears!
As if things couldn’t get any crazier, Trump’s new tax bill risks swelling the U.S. budget deficit by $3 trillion over the next decade! A final vote is looming in the Senate, expected by August. Buckle up; the stakes are sky-high!
TECH TALK: XAU/USD Charts EXPLODE with VOLATILITY!
On the H4 chart, gold found a bit of support at $3,280, only to rally up to $3,364. But hold onto your gold bars – a pullback to $3,255 could be on the horizon today! The MACD indicator is giving us some serious downward signals.
On the H1 chart, markets just hit their local target before a predicted dip to $3,255. Is there a glimmer of hope? A possible jump to $3,388 could be in store, but watch out; once bullish momentum fades, it’s back to the downtrend!
VOLATILITY AHEAD: Keep Your Eyes PEELED!
Gold’s thrilling rollercoaster has begun to stall, and as markets grapple with these shifting trade dynamics, we brace for even more fireworks ahead! With risks still simmering and technical indicators flashing warning signs, be ready for a wild ride in the gold market!
