US EditionGold Prices Recover After a Catastrophic Sell-Off
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3 Articles
The prices for gold and silver have caught again in the night on Tuesday.
Gold Prices Recover After a Catastrophic Sell-Off
Yesterday, while analysing the silver price chart, we described a fundamental shift in supply and demand dynamics that likely became the key driver behind the sharp decline in prices.This same reasoning can likely be applied to the gold market, which experienced a synchronous and dramatic sell-off. From the A peak on 29 January near $5,570, the gold price (XAU/USD) collapsed to the B low on 2 February below $4,420 — a drop of around 20%:→ “Smart…
Since Friday, the price of gold had fallen sharply and reached the lowest level in almost four weeks at the beginning of the week at 4,402 dollars. This is almost 1,200 dollars or about one fifth less than the record high on Thursday. Stronger recovery in silver prices on Tuesday was even stronger: here, the fine ounce was traded at 87.91 dollars in the morning and thus almost eleven percent higher than the previous day. The recovery took place …
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