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Gold Bulls Firm As Prices Rebound Above US$2,681
Gold Price Remains Heavily Offered Amid Renewed USD Buying Interest
Trump's remarks sparked a major market rally! Gold prices plummeted by $25. How do investors profit from closing out? Two charts to look at the technical outlook for gold.
At the start of the Asia trading session on Monday, the USD index showed an upward trend, with spot gold just experiencing a short-term sharp decline, currently falling to around $2625 per ounce, with an intraday drop of $25. The USD index is currently at 106.21, up 0.4% intraday. Analysts point out that Trump's latest tariff threat is driving the USD stronger.
Gold Slips as Trump's BRICS Currency Warning Boosts US Dollar
Gold experiences a sudden explosive market! The price of gold plummeted to a low of $2630 once, with Trump's 'astonishing' weekend remarks. How to trade gold?
On Monday morning in Asia, spot gold experienced a sharp decline, with prices briefly dropping below the $2630 per ounce mark, reaching a low of $2629.71 per ounce. FXStreet analyst Lallalit Srijandorn pointed out that in the Monday Asian session, gold prices fell due to the recovery of the dollar putting downward pressure on gold.
The reason for the sudden surge in gold prices has been identified! How will gold prices move next? FXStreet analyst's latest analysis on gold trade.
On Friday during the Asian market, spot gold suddenly surged significantly, with the current gold price surpassing the $2660 per ounce mark, rising $23 intraday. FXStreet analyst Haresh Menghani noted that, from a technical perspective, the gold price broke through the $2649-$2650 per ounce barrier during the day, which is seen as a key trigger by bulls.