Summary of This Week’s Gold: a roller-coaster market trendThe price of gold fluctuated sharply this week. It once reached a new record high of $3,167.6 per ounce, and then there was a significant pullback. The cumulative decline was more than $100, and it dropped to a low of $3,015.85 per ounce. The decline in a single week was $152, putting an end to the four consecutive weeks of upward trend.
There were many factors influencing the price of gold this week. Firstly, after Trump introduced the reciprocal tariff measures, it triggered market turbulence. The stock market, crude oil, and other markets all experienced decline. Investors sold off gold to cover losses in other markets. Secondly, after the gold price had continuously risen and accumulated a large increase, some traders chose to take profits, which led to a correction in the gold price. Thirdly, the market's expectations for the prospects of the Federal Reserve's interest rate cuts have changed, affecting the investment demand for gold.
Overall, the gold market this week has been comprehensively influenced by multiple factors, resulting in significant fluctuations. It is expected that next week, the gold market will show a restorative pattern of wide swings. In the long run, the bullish trend of gold has not ended yet. However, short-term investors need to pay attention to market fluctuations, set reasonable sl and tp points, and control investment risks.
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