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Analysis of today's market
Abstract：Despite the decline in U.S. Treasury yields, gold prices remained weak on Friday as the dollar was recovering. Traders continued to digest Donald Trump's victory in the U.S. presidential election, and
Despite the decline in U.S. Treasury yields, gold prices remained weak on Friday as the dollar was recovering. Traders continued to digest Donald Trump's victory in the U.S. presidential election, and reduced their exposure to the so-called "Trump trade" due to tariff uncertainties. Gold was trading at $2,688, down by more than 0.67%.
U.S. stock markets expanded their gains, and election tensions were a major driver of the rise in gold bars. However, the risks associated with U.S. politics have eased, and market participants will now look forward to Trump's policies.
Gold hovered around 2683, with a high of 2684 and a low near 2674 as of press time. Keep an eye on the resistance levels at 2710-2720-2730. If these levels are not breached, it will test the support levels at 2670-2660-2650.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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