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Gold faces fierce selling again! The price of gold approaches the bearish target, the latest gold intraday trading analysis by a well-known institution.
#Gold Technical Analysis# 24K99 News On Tuesday (November 12th), in the afternoon of the Asian market, spot gold encountered fierce selling pressure again in the short term, and the price has now fallen to around $2605 per ounce, with a nearly $15 drop within the day.
Milestone moment! BlackRock's bitcoin ETF size exceeds gold for the first time!
Bitcoin has entered a "beast mode", with the current price approaching $90,000. The market cap of cryptocurrencies has reached a historical high of about $3.1 trillion.
Gold encounters a major bearish situation! It is rumored that Trump has invited trade hawks out of the mountains, and the world's largest gold ETF faces the largest weekly fund outflow since 2022.
Gold traders took profits on Monday, causing gold prices to plummet to a one-month low and gold mining stocks to plummet. According to data compiled by Bloomberg, the outflow of funds from the world's largest gold ETF last week, SPDR Gold Trust, exceeded $1 billion, marking the largest weekly outflow since July 2022.
Golden industrial concept stocks in the Hong Kong stock market generally fell, with zhaojin mining falling more than 3%.
November 12th, GeLongHui: zhaojin mining, chinagoldintl fell by more than 3%, zijin mining group fell by more than 2%, lingbao gold, sd gold, etc. followed the decline.
"Trump 2.0", why is bitcoin skyrocketing while gold is plummeting.
Analysis suggests that 'Trump 2.0' may lean towards a 'small government' ideology, reducing government intervention and avoiding expansionary fiscal expenditures, which is bullish for bitcoin as a 'decentralized' asset. This cautious fiscal style also suppresses the safe-haven properties of gold, weakening its attractiveness as a hedge asset.
Trump receives major good news! Latest important progress in Middle East ceasefire. FXStreet Chief Analyst: Gold price may plummet by over $20 again.
#Gold Technical Analysis# 24K99 News On Tuesday (November 12), during the Asian session, spot gold basically stabilized after yesterday's sharp drop, with the current price around $2,622 per ounce.
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