Institution: Gold price is not a reversal of bullish trend
This article is machine translated
Show original
Odaily Odaily News Gold prices suffered their biggest weekly drop in more than three years this week, with Trump's victory in the US election and a stronger dollar reversing the historic rally in gold prices. Analysts said part of the decline in gold was attributed to speculative funds, which entered the next trend after the surge in gold prices. Nicky Shiels, head of research at MKS Pamp Group, said, "A lot of money has poured into Bitcoin and Tesla, which is Trump's deal, which has attracted funds from typical safe-haven assets such as gold. This is not a reversal of the bullish trend. Gold just rose too fast and now it is returning to a less bullish track."
Sector:
Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Share
Relevant content