Knowing the context of Friday’s sharp decline, the lack of activity on the precious metals market yesterday holds significance. Abrupt drops can lead to swift rebounds that negate the previous movement, especially if the decline was accidental or triggered by news that does not alter the overall trend. The time it takes for the market to shift from an emotional reaction to a logical approach can vary based on the type of event or news that triggered the movement. For instance, gold once rallied after the ECB increased rates, but the market eventually realized that it was bearish for gold, not bullish. In contrast, when Russia annexed Crimea, it took a relatively long time for the market to adjust and move below the pre-annexation levels. The lack of a powerful rebound after Friday’s slide suggests that the downward trend could persist.

There are two noteworthy points regarding yesterday’s price action. Firstly, on the long-term chart that includes gold, silver, junior miners, and the USD Index, there is a visible trend.

Dr. Kulveer Singh

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Dr. Kulveer Singh is a skilled Forex trader and holds a Doctorate in Business Management Studies. He has a talent for motivational speaking and achieving set targets. Dr. Singh's work experience includes serving as the Director of the Business Compliance department in GCC for 15 years, where he garnered extensive expertise in managing regulatory affairs in the financial industry. Dr. Singh is also an established motivational speaker who employs his knowledge to help both individuals and organizations achieve their goals. He is proficient in team building, communication, and leadership. Furthermore, Dr. Singh's passion for philanthropy has driven him to create Sikhnomics, a platform through which he shares his trading skills with underprivileged communities. In summary, Dr. Kulveer Singh is an accomplished financial professional with a vast skill set.