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Gold Prices Likely to Rise Further, Benefiting From Sell-Off in US Dollar, ANZ Research Says
Spot Gold violently rebounded by over 70 dollars! After reaching 3,500 dollars, is it entering a state of extreme volatility?
On Thursday morning, gold prices suddenly surged over 70 dollars, with strong bidding in the Asian market. In the coming days, the support test and response from the Asian market will determine whether Gold can regain its momentum or enter a long-term consolidation.
【Direct Hit on the Asia Market】 China has not yet responded to Trump's latest statements! The partial reversal of "dumping the USA" has led to a rise in the dollar and a retreat in Gold.
On Wednesday (April 23), Asian stock markets rose, and the dollar edged higher, as the Trump administration eased some of the recent tensions that have disrupted financial markets.
Is the plunge in Gold a sure win question? JPMorgan calls for a target of 4,000 dollars!
After Gold peaked at 3500, it fell by 130 dollars, with a shocking short-term drop. However, the real "big players" did not panic.
A single comment from Trump caused the market to change dramatically in an instant! The dollar soared while gold prices once plummeted by 68 dollars.
At the beginning of trading on Wednesday in Asia, the financial market suddenly experienced severe fluctuations. The President of the USA, Trump, stated that he had no intention of firing Federal Reserve Chairman Powell, which caused the dollar to surge sharply and spot Gold to plunge unexpectedly. This statement marks a significant shift in Trump's attitude, as he has recently intensified his criticism of Powell and refused to rule out the possibility of taking the unprecedented step of firing Powell.
NYSE American New 52-Week Highs And Lows