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Gold futures fell to $2600, but analysts still believe there is a long-term hedging demand.
Gold futures prices continued to decline, marking the fourth consecutive trading day of decline in the past five trading days.
Gold Adds to Losses but Analysts Still See Long-term Safe-haven Demand
Gold encountered a major bearish signal: related to Trump! The price of gold fell by $21. How should gold be traded next?
On Tuesday, as the USD reached a more than four-month high, increasing the opportunity cost for non-USD buyers to hold gold, the gold price plummeted to a near two-month low. Analyst Christian Borjon Valencia from FXStreet pointed out that there was a large outflow of funds from gold ETFs, indicating that investors are shifting towards higher-risk assets.
Gold Nosedives After Trump Victory – Commerzbank
World Gold Council: Gold still has fundamental support, and the extent of the pullback may be limited.
November 12th, Gelunhui | The World Gold Council stated in its latest report that the impressive rally in gold prices since the beginning of the year has been somewhat affected by the results of the USA presidential election.
Commodity Roundup: Gold Extends Decline Amid Prospects of Fewer Rate Cuts,