The reason for the gold price drop of over 25 dollars is here! Powell's speech is impactful. How to trade gold?
On Wednesday, due to the expected rise in usa's October CPI, the dollar strengthened and usa's bond yields increased, causing gold prices to be sold off, marking the fourth consecutive day of declines. FXStreet analyst Christian Borjon Valencia indicated that upcoming economic events, including Federal Reserve Chair Powell's speech and usa's retail sales, will further influence the trend of gold.
Gold Futures Extend Slide as Rally in Dollar, Treasuries Stays Strong
Gold Dips 5% Following Trump's Return to the White House, Even as Wall Street Soars
Is Gold a Better Investment Hedge Than Crypto? – SA Sentiment Survey
Institutions: US inflation data in line with expectations, gold maintains a slight rebound.
Gelonghui on November 13th | Spot gold traded slightly above $2,600, after falling to a seven-week low in November, found technical support near the main trendlines.
The World Gold Council continues to support gold: this is merely a temporary adjustment!
Analysts from the World Gold Council believe that gold prices are currently just facing a popular pause, or even a healthy short-term correction.