Strong USD Impacts Gold Prices
Обновлено
Gold prices have seen significant volatility as the USD has strengthened, partly due to US President-elect Donald Trump's comments on the BRICS countries. Concerns about persistently high interest rates in the US have weighed on gold prices. According to analyst Peter Grant of Zaner Metals, the Fed may be more cautious about cutting interest rates in 2025, which is not good for the gold market.
Gold sold off in overnight trading, falling to $2,621/ounce but quickly recovered, reaching $2,639/ounce on the morning of December 3. The gold price chart shows that gold is trading below the 89-EMA, with near-term resistance at $2,647.515.
Short-term view: Selling pressure could continue if the USD maintains its strength, but current prices could also attract investors looking for buying opportunities at low prices.
Gold sold off in overnight trading, falling to $2,621/ounce but quickly recovered, reaching $2,639/ounce on the morning of December 3. The gold price chart shows that gold is trading below the 89-EMA, with near-term resistance at $2,647.515.
Short-term view: Selling pressure could continue if the USD maintains its strength, but current prices could also attract investors looking for buying opportunities at low prices.
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