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Gold Holds Near Two-Month Low As Powell Flags Rate-Cut Restraint
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Gold Futures End Lower On Stronger US Dollar, Higher US Treasury Yields
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.
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's Losing Streak Continues, Analysts Advise Holding Shorts
