$TRUMP Breaking: Gold falls 4% in its worst weekly close since June — will the Fed deepen the losses?
Gold ended a difficult week below the psychological $4,000 level for the first time since July, with spot prices settling near $3,997 an ounce in the latest documented reading ($3,996.71 at 22:06 Saudi time), after touching a daily low of $3,975.23. It posted a weekly loss of around 4%—its worst since June—and declined for a second consecutive week. The drop came as rising oil prices fueled expectations that U.S. interest rates would stay higher for longer, global stocks were sold off, and leveraged positions were liquidated, in the week before the Fed’s October 27–28 meeting. This analysis answers two questions: How did the week end, and what lies ahead for gold?
$XAU
#IRSPlansLowerTaxDisclosurePenaltiesForCryptoCases #PepeJumps14%ToLeadAltcoinRebound #SwedishCentralBankUrgesEKronaReview #BinancePick
Gold ended a difficult week below the psychological $4,000 level for the first time since July, with spot prices settling near $3,997 an ounce in the latest documented reading ($3,996.71 at 22:06 Saudi time), after touching a daily low of $3,975.23. It posted a weekly loss of around 4%—its worst since June—and declined for a second consecutive week. The drop came as rising oil prices fueled expectations that U.S. interest rates would stay higher for longer, global stocks were sold off, and leveraged positions were liquidated, in the week before the Fed’s October 27–28 meeting. This analysis answers two questions: How did the week end, and what lies ahead for gold?
$XAU
#IRSPlansLowerTaxDisclosurePenaltiesForCryptoCases #PepeJumps14%ToLeadAltcoinRebound #SwedishCentralBankUrgesEKronaReview #BinancePick