Latest news on the Middle East ceasefire negotiations! FXStreet's chief analyst: Gold prices are likely to plummet by more than $25 again.
During the Asian market session on Tuesday, spot gold continued to be under pressure after the astonishing plunge yesterday, with the gold price currently near $2625 per ounce. Valeria Bednarik, Chief Analyst at FXStreet, pointed out that the outlook for gold has turned bearish, and the price of gold may test $2600 per ounce.
The Middle East tension cooled down, with the gold price experiencing the largest drop in four years, yet Wall Street remains bullish on the future performance.
As the ceasefire agreement between Israel and Hezbollah approaches, the gold price hit the largest drop in four years.
Gold Falls as Trump Tariff Threat on Canada, Mexico Aids Dollar
Morgan Stanley Fund: Trump's policies being implemented may lead to a second round of inflation in the usa, still bullish on the future upside of gold.
morgan stanley funds stated that the upward potential of gold has opened again after this round of adjustment. If Trump's relevant policies truly take effect next year, there is a possibility of secondary inflation or stagflation in the usa, both of which will support the rise in gold prices.
Trump's decision and a report caused gold to "bleed profusely"! The gold price plummeted by over 90 dollars. How to trade gold?
#Gold Technical Analysis# 24K99 News On Monday (November 25), due to reports that Israel and Hezbollah were close to reaching a ceasefire agreement, and Trump nominated Benson to be the US Treasury Secretary, undermining the safe-haven appeal of gold, causing the gold price to plummet more than 3%.
Gold Sinks by Most in Four Years as Israel-Hezbollah Ceasefire Nears