Trump's victory resulted in a Waterloo for gold, with the spot gold price plummeting over $230 from its high.
① On Thursday morning in the European market, spot gold was quoted at $2,555.98 per ounce, having fallen over $230 since the historical high on October 31. ② Analysts state that the decline in gold prices is mainly due to a shift in risk appetite and a strengthening dollar after Trump's victory. Citigroup expects that the bullish market for precious metals may pause for a few weeks. ③ Observers remain bullish on the fundamentals of gold, believing that demand from central banks for gold will remain strong.
Five consecutive days of decline! Gold is seriously injured, is the bull going to leave?
What does the current round of "repricing" of gold actually mean?
As gold plummeted, Powell's speech is coming! FXStreet senior analyst: It is crucial for gold prices to hold this support.
In early European trading on Thursday, spot gold maintained a sharp decline trend intraday, with the current gold price near $2,556 per ounce, a daily plunge of about $17. FXStreet senior analyst Dhwani Mehta pointed out that as the relative strength index (RSI) on the daily chart of gold remains bearish, it is crucial for gold buyers to hold above the 100-day moving average near $2,545 per ounce.
Under the storm of a strong US dollar, the gold bull market has pressed the pause button, how does Wall Street view it?
Short-term fluctuations, long-term optimism.
Gold has been heavily sold off again! The price of gold has plummeted by more than 20 dollars in a day. Powell may trigger severe fluctuations. Analysis of the trade involving the euro, british pound, yen, and gold.
#Gold Technical Analysis# #Forex Technical Analysis# FX168 Financial Report (Asia-Pacific) News: In the early European session on Thursday, November 14th, the US Dollar Index maintained a strong trend, currently around 106.70; spot gold plummeted significantly, with the price currently at $2552 per ounce, plummeting more than $20 within the day.
Gold's Losing Streak Continues, Analysts Advise Holding Shorts