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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.
"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.
Is gold bearish? Reports of Trump inviting trade hawks back to lead as the United States trade representative.
The Trump effect has prompted gold traders to take profit, with the world's largest gold etf experiencing the largest weekly fund outflow since 2022.
Gold Holds Near One-Month Low as Dollar Rallies After Trump Win
Exciting! The reason for the sharp drop in the gold price by nearly $65 lies in the sudden market rumors about Trump's personnel changes. How to trade gold
On Monday (November 11th), the price of gold plunged more than 2% due to the significant strength of the US dollar, as well as the impact of Donald Trump being elected President of the United States on fiscal policy and interest rate cuts.