"Gold Price Outlook: Fed Rate-Cut Bets Impact Precious Metals Market"

Gold price fell to a new retracement low of 1,984 but may see a potential rebound as it forms a bullish hammer candlestick pattern, with a target of 2,002 followed by 2,009. However, a falling ABCD pattern suggests a lower price area of 1,979, with the 200-Day MA at risk of being tested at 1,965. A monthly bear trigger may persist if gold drops below January’s low of 1,973, indicating a bearish continuation.