Gold: Shocking drop of nearly 100 USD/ounce
The world gold price today is listed on Kitco at $2,625/ounce, down 90/ounce compared to early this morning.
Gold prices fell sharply as investors took profits after a five-session rally to a three-week high last week.
Gold was also negatively affected after Donald Trump chose billionaire investor Scott Bessent as the US Treasury Secretary in the new administration. According to analysts, Scott Bessent will not be tough in the trade confrontation with China, causing political risks to cool down, which will be detrimental to gold prices.
Gold prices fell sharply as investors took profits after a five-session rally to a three-week high last week.
Gold was also negatively affected after Donald Trump chose billionaire investor Scott Bessent as the US Treasury Secretary in the new administration. According to analysts, Scott Bessent will not be tough in the trade confrontation with China, causing political risks to cool down, which will be detrimental to gold prices.
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