Gold just suddenly fell again! There may be major news in the Middle East today, with the Fed's minutes looming. How to trade gold?
On Tuesday morning in the European market, spot gold suddenly plunged sharply in the short term, with the gold price currently close to $2611 per ounce, a decline of nearly $15 during the day. FXStreet senior analyst Dhwani Mehta pointed out that the upcoming bearish crossover and the bearish relative strength index (RSI) on the daily chart signal a warning to gold buyers.
Express News | TD cowen inc 7.75% senior notes due 15/06/33 usd25 has lowered the target price for barrick gold from $26 to $25.
Express News | Barrick Gold Corp : TD Cowen Cuts Target Price to $25 From $26
Gold volatility intensifies, analysts no longer unanimously call! Are the bulls showing signs of exhaustion?
The volatility of gold has increased, and analysts, even while remaining optimistic about the call, have quietly lowered next year’s target price. Moreover, some strategists have stated that gold prices may have already peaked in the short term.
Latest news on the Middle East ceasefire negotiations! FXStreet's chief analyst: Gold prices are likely to plummet by more than $25 again.
During the Asian market session on Tuesday, spot gold continued to be under pressure after the astonishing plunge yesterday, with the gold price currently near $2625 per ounce. Valeria Bednarik, Chief Analyst at FXStreet, pointed out that the outlook for gold has turned bearish, and the price of gold may test $2600 per ounce.
The Middle East tension cooled down, with the gold price experiencing the largest drop in four years, yet Wall Street remains bullish on the future performance.
As the ceasefire agreement between Israel and Hezbollah approaches, the gold price hit the largest drop in four years.