Trump's favorable remarks have become a golden killer, and analysts say the rally is still expected
2025-04-23 06:02:54
On April 23rd, spot gold continued to decline in the Asian session, expanding its decline to 2% at one point. The reason is that Trump has dropped his threat to fire Federal Reserve Chairperson Powell and expressed optimism about a trade deal with China, which has weakened the safe-haven appeal of gold. "In the short term, the above factors have led to a sell-off in the price of gold, which has reached a very extreme oversold level," said Kelvin Wong, senior market analyst at Chubb Asia Pacific. "But looking at the resistance level above, there is no sign of any kind of bullish weakness yet, so the price of gold is still likely to rise. "
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