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The price of gold on Friday became very volatile after the release of Personal Consumption Expenditure (PCE) data with the actual data being 0.2% of the forecast value and previously 0.3%. The price of gold soared to $2359 after the release of the PCE but the increase did not last long, the price of gold fell again to a low level of $2320. Maybe many traders were trapped in this situation when gold breakout and then rose, many retail traders placed buy positions, but after a while the price stuck at $2359 and retail traders still hoped that the price would rise even higher, because the price then fell, many retail traders hit stop loss, there is a role for smart money there which is usually carried out by large institutions with very large transaction volumes.
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Thousands of brokers in the forex industry offer services in forex trading, choosing a broker is very important by using a reliable and regulated broker to reduce the risk of broker scams that harm traders.
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Friday, May 31, 2024 8:15 PM - 6.33 USD: https://tronscan.org/#/transaction/e9decc0ad6840c318a6d8ff7ea6a10415f1deb57b41c34a37cb1f064eb6c01b9
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Friday, May 31, 2024 10:47 PM - 31.97 USD: https://tronscan.org/#/transaction/5dac619a0a189b2fcbb87768272db0521e6507cf2e5ce26c7ed95ae127d6420c