Gold Market Sees High Volatility Amid Safe-Haven Demand
Last night, the international gold market experienced significant volatility. At one point, gold prices surged by $35, rising from $2,851 to $2,886 per ounce.
However, at this level, profit-taking activities emerged, leading to a pullback. As a result, gold prices declined and closed at $2,861 per ounce early on February 8, still up $5 compared to the previous day's level of $2,856.
Analysts suggest that global gold prices continue to heat up due to persistent safe-haven demand. Investors remain anxious about rapid policy shifts in the U.S., fueling a continuous flight to precious metals.
Another contributing factor was the sell-off in the stock market overnight, driven by growing concerns over economic instability. As a result, many investors shifted their capital into gold, making its strong rally unsurprising.
However, at this level, profit-taking activities emerged, leading to a pullback. As a result, gold prices declined and closed at $2,861 per ounce early on February 8, still up $5 compared to the previous day's level of $2,856.
Analysts suggest that global gold prices continue to heat up due to persistent safe-haven demand. Investors remain anxious about rapid policy shifts in the U.S., fueling a continuous flight to precious metals.
Another contributing factor was the sell-off in the stock market overnight, driven by growing concerns over economic instability. As a result, many investors shifted their capital into gold, making its strong rally unsurprising.
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