Gold prices have retreated to the 21-day moving average, potentially offering short-term support, according to a Matrixport chart released on February 3. The pullback follows market speculation about Kevin Warsh's possible nomination as Federal Reserve Chairman, which is seen as a signal of tighter monetary policy. Despite this, Matrixport maintains a bullish outlook on gold, citing ongoing U.S. debt expansion as a supportive factor. Matrixport suggests that the current pullback is primarily a result of profit-taking and does not alter its long-term positive view on gold. The firm has been consistently optimistic about gold since prices fell below $2,000 per ounce in 2023, viewing the current dip as a strategic buying opportunity for both gold and silver.