The last few weeks have been a roller coaster ride for gold. A breathtaking rally to new highs followed by a bone-crunching decline in double quick time. The volatility could spook an average investor. But as Colonel Hannibal Smith (Liam Neeson) often advocates in the Hollywood blockbuster The A-Team – “no matter how random things may appear, there is always a plan!” Nothing happens in financial markets without a reason, and the reason is always financial. The wild ride in gold is going as per plan. The plan is to shake off weak hands and accumulate gold on declines.
Ananya
Adani Ports share price drops 10.00%, Buy, Hold or Sell? View Targets Price
Adani Ports share price: Adani Ports (NSE: ADANIPORTS) and Special Economic Zone Limited has recently faced significant fluctuations in its share price, prompting interest from investors and market analysts. As of November 21, 2024, the Adani Ports share price is currently at ₹1,160.70, reflecting a sharp decline of 10.00% from the previous trading session.
Trump’s return: There are many small reasons but three big ones
The US elections are over and the outcome is an uncontestable victory for Donald Trump and the Republican Party. Trump got 50.4% of the national vote, a margin of more than 2 percentage points over Kamala Harris. This signals a decisive victory by recent US election standards. He won all seven swing states and got about the same number of votes in 2024 as in 2020 (Harris got 10 million fewer than Joe Biden had that year).
Gold Defends Key $2,547 Support; What’s Next?
Spot Gold Price Forecast: The short-term technical outlook for Gold price remains more or less the same, with any recovery attempts likely to be short-lived as long as the 14-day Relative Strength Index (RSI) stays bearish.
Gold prices hit one-month low amid strong US dollar; check latest prices in your city
Gold prices fell for the third day in a row, declining by ₹1,470 per 10 grams in early trade on Wednesday, November 13, due to a stronger US dollar in global markets. The American currency traded near three-month high levels ahead of the key inflation data which could give cues about possible rate cuts by the US Federal Reserve.
What Should Be Your Near-Term Strategy For The Gold?
With US election uncertainties behind us and the Fed cutting rates as anticipated, gold prices are experiencing profit-taking amid a lack of new catalysts.
Trump’s policies are likely to increase inflation risks
“From last week’s record high, Gold (XAU/USD) had thus fallen by around $140. Selling pressure was caused by a significantly stronger US dollar and a sharp rise in US bond yields. In previous weeks, neither of these factors had been a hindrance for Gold. However, the extent of the USD appreciation and the rise in yields were apparently too strong this time to be ignored by Gold.”