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Sudden major market movement! Gold price plunges nearly $20 in the short term, new developments in Middle East ceasefire reported, FXStreet Chief Analyst analyzes the technical outlook for gold.
In the early hours of Friday in the Asian market, spot gold suddenly plummeted nearly $20 in a short time, with the price just dropping to $2612.82 per ounce, hitting a new intraday low. FXStreet's chief analyst Valeria Bednarik stated that gold prices are showing a soft tone and are likely to reach new weekly lows.
The reason for the gold price dropping by 18 dollars has been found! Important news from Israel, how to trade gold with non-farm data approaching?
On Thursday, after the United States released last week's initial jobless claims data, US Treasury yields rose, and the price of gold plummeted. In addition, the latest news on the Middle East ceasefire also hit the safe-haven asset gold. Investors are currently focusing on Friday's US non-farm payroll data, which may make the Federal Reserve's interest rate path more clear.
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CSI Commodity Equity Index Overview: Gold prices fell as investors await USA employment data, while oil prices declined.
Crude oil prices fell slightly on Thursday, although OPEC+ delayed production resumption, they still plan to increase production next year. Gold prices dropped as investors await the usa's non-farm payroll data on Friday for clues on the direction of Federal Reserve policy. London copper edged down.
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Gold prices have fallen more than 10 dollars from the day's high! What will happen next? Latest gold price technical analysis from FXStreet senior analyst.
In the early European session on Thursday, spot gold continued to fall short-term, with the current price dropping to around $2644 per ounce, more than $10 below the intraday high reached earlier. FXStreet senior analyst Dhwani Mehta said that the market will closely monitor any developments in global trade and Middle East geopolitics, which could significantly affect risk sentiment and the gold price sensitive to the US dollar.
The road to gold hitting a new high is far from over! Well-known investment bank: in this situation, the price of gold may quickly soar to $3000.
According to the well-known investment bank Macquarie Group, with the Federal Reserve lowering interest rates and central banks around the world increasing gold reserves, there is potential for further increases in gold prices next year, possibly reaching record highs. Macquarie stated that if concerns about the usa's fiscal situation intensify, gold prices could soar towards 3000 dollars per ounce.
Macquarie Group predicts that gold prices will rise in 2025 and may surpass the $3,000 mark.
Macquarie recently released an optimistic forecast about gold price trends, indicating that by 2025, gold prices are expected to see significant increases and may even break historical records.
Gold prices have surged unexpectedly! Gold prices have rapidly increased by nearly 10 dollars in the short term. FXStreet analyst's latest analysis on gold trade.
On Thursday, at the end of the Asian market, spot gold suddenly rose nearly 10 dollars in a short time, and the current gold price is approaching 2655 dollars per ounce.
The gold bulls are growing stronger, and another giant has raised the 2025 expectations!
In two scenarios, gold may 'quickly' challenge the $3000 mark. But be cautious as gold may face a large-scale liquidation in the near future.
Israel has proposed a new ceasefire! Gold prices have dropped to around 2645. FXStreet's chief analyst discusses the technical outlook for gold.
On Thursday in the Asian market, spot gold continues to show a mild downward trend during the day, with the gold price currently dropping to around 2645 dollars per ounce. New news on the ceasefire in the Middle East has surfaced, which has warmed the market's risk appetite and impacted the safe-haven asset, gold.
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