Commodity Roundup: Gold Falls as Trump Picks Scott Bessent for Treasury, Oil Down
Trump's decision to cease fire in the Middle East sparked a 'bloodbath' in gold! Gold prices plunged more than 53 dollars. How to trade gold?
At the end of Monday's Asian market, spot gold continues to show a significant decline during the day, with the current gold price around $2,662 per ounce, plummeting more than $53 during the day. FXStreet analyst Haresh Menghani pointed out that the nomination of Bensent as Secretary of Treasury by elected President Trump has cleared a major point of uncertainty in the market.
Did Trump's major decision trigger the market? Spot gold once fell more than $60.
On Monday, the Asian session saw a huge shake-up in gold, with investors profit-taking one after another, indicating a possible shift in favor of gold sellers.
Gold Steady After Strong Surge Amid Escalating Ukraine Conflict
Gold will continue to shine! Goldman Sachs: it will reach 3000 dollars next year, with global central banks being the 'main driver'.
① Goldman Sachs predicts that gold prices may reach $3,000 per ounce next year, as central banks around the world continue to buy gold in large quantities; ② the firm also believes that gold is the preferred trade for combating inflation and geopolitical issues in 2025.
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.