Gold prices have sharply fallen in recent hours, dropping from a peak of 5595.44 dollars achieved early today to 5214.4 dollars now, a decline of nearly 4%.
Gold prices fell in just 30 minutes from 5496.55 to 5105 before starting a partial rebound and reducing losses.
Silver losses reached 5.8%, trading at 109.9 dollars per ounce, while Bitcoin dropped by more than 5.19% to 84.8 thousand dollars. The S&P 500 index also declined by 1.43% and the Dow Jones lost 313 points, down by 0.64%, while the biggest loss was for the collapsed Nasdaq, which fell by more than 2.55%. Meanwhile, crude oil and Brent crude prices rose by 3.26% and 2.9%, respectively.
The drop in gold coincided with the release of factory orders data for November in the United States, which came in positive with a growth of 2.7%, higher than the expected 1.7%. However, a direct link cannot be made between the data and its impact on gold trading, especially with the violent fluctuations the yellow metal has been experiencing, which has been rising exceptionally since 2025.
The prevailing trend: Strongly bearish; all technical indicators confirm the bears' control after a decisive break below the cloud (Ichimoku), and the SuperTrend indicator flipped to bearish at 5,384.25 dollars.
Selling saturation state: The Relative Strength Index (RSI) is at 9.14 (extremely oversold), with an uncertain hammer candle at the bottom of 5,104.60 dollars that may indicate a temporary exhaustion of sellers.$XAU $BTC $TREE
#MarketCorrection #WhoIsNextFedChair #TrumpCrypto #Write2Earn
Gold prices fell in just 30 minutes from 5496.55 to 5105 before starting a partial rebound and reducing losses.
Silver losses reached 5.8%, trading at 109.9 dollars per ounce, while Bitcoin dropped by more than 5.19% to 84.8 thousand dollars. The S&P 500 index also declined by 1.43% and the Dow Jones lost 313 points, down by 0.64%, while the biggest loss was for the collapsed Nasdaq, which fell by more than 2.55%. Meanwhile, crude oil and Brent crude prices rose by 3.26% and 2.9%, respectively.
The drop in gold coincided with the release of factory orders data for November in the United States, which came in positive with a growth of 2.7%, higher than the expected 1.7%. However, a direct link cannot be made between the data and its impact on gold trading, especially with the violent fluctuations the yellow metal has been experiencing, which has been rising exceptionally since 2025.
The prevailing trend: Strongly bearish; all technical indicators confirm the bears' control after a decisive break below the cloud (Ichimoku), and the SuperTrend indicator flipped to bearish at 5,384.25 dollars.
Selling saturation state: The Relative Strength Index (RSI) is at 9.14 (extremely oversold), with an uncertain hammer candle at the bottom of 5,104.60 dollars that may indicate a temporary exhaustion of sellers.$XAU $BTC $TREE
#MarketCorrection #WhoIsNextFedChair #TrumpCrypto #Write2Earn