Gold investors bear profits, analysts: it may be difficult to have real support before $3,850
2025-10-09 18:00:01
Gold fell below $3,950 on Thursday as the dollar rallied and gold investors took profits following a ceasefire between Israel and Hamas. Tai Wong, an independent metals trader, said: "With the Gaza ceasefire in effect, speculators are taking some gold chips from the negotiating table as the ceasefire has cooled the situation in the Middle East. Overall, though, confidence in the trade has barely waned. However, gold prices had rallied so fast that there was no real support until $3,850."
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