The gold price has fallen over 10 dollars from its intraday high! The employment data that the Federal Reserve is closely monitoring is coming. How to trade gold?
On Tuesday morning in the European market, spot gold has continued to decline from its intraday high of $2,650 per ounce, and the current gold price has fallen to around $2,639 per ounce, nearly erasing all intraday gains. FXStreet senior analyst Dhwani Mehta wrote that the gold price is moving lower below $2,650 per ounce, currently waiting for the usa JOLTS survey to look for new momentum.
Trump makes bold statements, Israel suddenly announces major news! Gold prices fluctuate by more than 30 dollars. How to trade gold?
On Monday (December 2nd), the price of gold experienced violent fluctuations, closing price regained most of the lost ground during the day, around $2640 per ounce. Analysts pointed out that Trump's tariff threat remarks and strong US ISM manufacturing PMI data strengthened the US dollar, which is unfavorable for the gold price, but the tense situation in the Middle East provided support for the gold price.
Gold Price Dips Amid Buoyant US Dollar and Easing Geopolitical Tensions
Bank of America's outlook for the bulk market in 2025: Tariffs cast a shadow over the global market, crude oil enters an oversupply cycle, with gold shining alone, soaring straight to $3,000.
Bank of America Merrill Lynch expects that due to a significant increase in production from non-OPEC countries, coupled with the possibility of OPEC+ releasing more supply, the crude oil market may enter a surplus cycle, with the average annual price of Brent crude oil expected to be $65 per barrel. Basic metals are experiencing price fluctuations amid differentiated supply and demand. Driven by macroeconomic uncertainty and risk aversion sentiment, gold remains one of the most attractive precious metals in 2025.
Gold Bulls Firm As Prices Rebound Above US$2,681
Gold Price Remains Heavily Offered Amid Renewed USD Buying Interest