gold price drop

Gold Drops $100

Gold Drops $100: Why the Peace Deal Flipped the Market Playbook

Gold Drops $100

Gold Drops $100

The global markets pulled a complete regime shift this morning, just prior to the start of trading on the New York Stock Exchange. With peace announcements hitting the tape and a formal treaty being signed with Iran, gold took a massive, sharp plunge of over $100. For many traders tracking the action over the last six months, this move felt entirely upside down. Why? Because recently, peace rumors caused gold to rally, while escalating geopolitical tensions sent it lower. (more…)

By Bob711, ago

Gold Price Drop – buying opportunity?

Gold Price Drop

Here’s a breakdown of how I see the recent drop in gold prices — whether it looks like a pullback, a rout, or a buying opportunity — along with what the market consensus appears to be.

Gold Price Drop - buying opportunity? Gold Gold Bars - Standard Restoration Act,

What’s happening

  • Gold recently peaked above US $4,300/oz before dropping ~2 % (or more) in a short span, after hitting a record high.

  • The drop is attributed to a combination of:

    • A firmer U.S. dollar (makes gold more expensive in other currencies)

    • Some easing in safe-haven demand (for instance, comments from U.S. leadership around trade with China)

    • The fact that gold is now “overbought” in many analysts’ views, suggesting a technical correction might be underway.

(more…)

By Bob711, ago