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Gold Nosedives After Trump Victory – Commerzbank
World Gold Council: Gold still has fundamental support, and the extent of the pullback may be limited.
November 12th, Gelunhui | The World Gold Council stated in its latest report that the impressive rally in gold prices since the beginning of the year has been somewhat affected by the results of the USA presidential election.
Many jewelry stores have long queues in front, with the price of gold recycling dropping by nearly 20 yuan per gram in the past half month.
November 12th, according to Yicai, as of the close on November 12th, Shanghai Gold Exchange gold 9999 fell by over 1.70%; gold etf dropped by 1.61%.
Gold has reached a one-month low, falling below $2600, with the dollar rising on Trump's election victory.
Due to Donald Trump's election victory last week, the US dollar continues to rise, causing gold to fall to a one-month low.
Gold price plunged nearly $18 intraday! The technical aspect is currently very "dangerous". FXStreet analyst's latest analysis of the gold price trend.
On Tuesday's early European session, spot gold plunged sharply, with the price currently near $2602 per ounce, down nearly $18 during the day. Analyst Haresh Menghani from FXStreet pointed out that if the gold convincingly breaks below the $2600 per ounce level, it should pave the way for a continuation of the recent pullback from historical highs, bringing the gold price down to $2540-2539 per ounce.
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.
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