Ceasefire & Treasury Appointment add to Gold’s decline
Gold (XAU/USD) plunged during Monday’s US session, dropping nearly 3.5% from its recent peak following reports from Axios that Israel and Hezbollah may have agreed to a ceasefire.
Gold has fallen below key technical levels, trading under its 200-, 100-, and 50-day Simple Moving Averages after recently peaking around $2,720.
Possibly adding to the downward pressure is President-elect Donald Trump’s announcement of Scott Bessent, as the new Treasury Secretary. While Bessent is seen supporting Trump’s protectionist and tax-cutting policies, investors expect his appointment may temper the impact of proposed tariffs.
Gold has fallen below key technical levels, trading under its 200-, 100-, and 50-day Simple Moving Averages after recently peaking around $2,720.
Possibly adding to the downward pressure is President-elect Donald Trump’s announcement of Scott Bessent, as the new Treasury Secretary. While Bessent is seen supporting Trump’s protectionist and tax-cutting policies, investors expect his appointment may temper the impact of proposed tariffs.
Import the BlackBull Markets Economic Calendar:
blackbull.com/en/economic-calendar/?utm_source=tradingview
Free TradingView Premium with BlackBull Markets: blackbull.com/en/platforms/tradingview/?utm_source=tradingview
blackbull.com/en/economic-calendar/?utm_source=tradingview
Free TradingView Premium with BlackBull Markets: blackbull.com/en/platforms/tradingview/?utm_source=tradingview
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.