Will Gold Price Decline Turn Into Larger Correction? (Elliott wave)
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The article discusses the potential end of a nine-year rally in gold prices, suggesting a near-term decline. However, there is a possibility for a new high next year.
November 25, 2024 | 7:15 pm
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AAAU, a gold-backed ETF, may experience a short-term decline in value due to the anticipated drop in gold prices. However, there is potential for recovery if gold prices reach new highs next year.
AAAU is directly tied to gold prices, which are expected to decline in the near term. This will likely lead to a decrease in AAAU's value. However, the possibility of gold reaching new highs next year could provide a recovery opportunity.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80