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Gold suddenly changes its trend! Important ceasefire news from the Middle East causes gold prices to plummet more than $17 intraday. How to trade gold?
On Monday during Asian market trading, spot gold suddenly plummeted significantly, with the gold price just dropping below 2,700 USD/ounce, a daily drop of over 17 USD. According to a recent report by the well-known USA website Axios, two senior Israeli officials and two American officials told Axios that Israel and Lebanon are about to reach a ceasefire agreement to end the conflict between Israel and Hezbollah.
Risk aversion is rising, gold is back above the $2700 level.
Recently, gold futures have recorded the largest weekly increase since March 2023, ending three consecutive weeks of decline.
Gold has suddenly exploded! The gold price has surged nearly 30 dollars in one day. What will happen next? The analyst's latest technical analysis.
During the early European session on Friday, spot gold prices suddenly surged again in the short term, with the price approaching $2700 per ounce and a nearly $30 increase within the day. FXStreet analyst Haresh Menghani wrote that on Friday, gold prices rose for the fifth consecutive day, reaching a high point in nearly two weeks. The escalating Russia-Ukraine conflict continues to drive the safe-haven capital trend towards gold.
Renowned institutions' gold trading analysis: Gold prices are expected to rise by over $20 again.
At the end of the Asian market on Friday, spot gold maintained a sharp rise during the day, with the current price around $2689 per ounce, a daily increase of about $20. According to Economies.com, the outlook for gold remains bullish, with potential to rise to $2710.00 per ounce.
Scotiabank Maintains Sandstorm Gold(SAND.US) With Hold Rating, Raises Target Price to $6.75
Two major pieces of news from Russia and Ukraine, gold surges again! Gold price soars nearly $15 within the day. How to trade gold.
In early European trading on Thursday, spot gold accelerated its short-term rise, with the price approaching $2665 per ounce, a nearly $15 surge intraday. FXStreet senior analyst Dhwani Mehta pointed out that the gold price is at its highest level in over a week. Geopolitical risks continue to support the traditional safe-haven gold prices.