Agency: Gold prices are not a bullish trend reversal
2024-11-17 14:09:47
Gold price this week encounter three years largest single weekly decline trondesk3cryptocurrencydesktopCrypto News
Gold suffered its biggest weekly drop in more than three years this week as Mr. Trump's victory in the US election and a strengthening dollar led to a reversal of its historic rally. Analysts said some of the fall in gold was down to speculative money that moved into the next trend after the price spike. "There's been a huge influx of money into bitcoin and Tesla, which is a Trump trade, which has attracted money from classic safe havens like gold," said Nicky Shiels, head of research at MKS Pamp Group. "It's not a reversal of the bullish trend, gold has just gone up too fast and now it's getting back on a less bullish track."
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