This week, Gold exhibited sharp volatility, first fluctuating upward and hitting a recent high on Thursday, followed by a sudden precipitous plunge on Friday. The overall trend shifted sharply from an upward trajectory to a significant pullback.
1.Early Week Strong Rally
During the European session on November 10th, gold initiated an upward movement, with a daily gain of 2.06% and a intraday high of 4084.84 USD/oz. In the European session the next day, it traded above the 4123 level and later climbed further to 4134.63 USD/oz, extending the upward momentum.
2.Mid-Week High Volatility Consolidation
In the middle of the week, gold maintained a high-level fluctuating pattern. On November 13th, the gold price performed strongly, not only breaking above the 4200 level but also hitting a recent new high of 4244 intraday, before retracing sharply afterward. On the morning of November 14th, the gold price continued to rise, maintaining a volatile rebound driven by multiple technical supports. However, hourly indicators such as RSI showed overbought signals, revealing short-term correction risks.
3.Weekend Precipitous Plunge
A sharp reversal occurred in the market on November 15th, with London Gold plummeting over 105 in a single day, touching an intraday low of 4032. This plunge was triggered by the confluence of multiple short-term bearish factors, including the shift in stance by Fed dovish officials, concentrated profit-taking by holders, and a cooling of safe-haven sentiment.
Nevertheless, the market generally views this as a short-term fluctuation rather than a reversal of the long-term upward trend.
1.Early Week Strong Rally
During the European session on November 10th, gold initiated an upward movement, with a daily gain of 2.06% and a intraday high of 4084.84 USD/oz. In the European session the next day, it traded above the 4123 level and later climbed further to 4134.63 USD/oz, extending the upward momentum.
2.Mid-Week High Volatility Consolidation
In the middle of the week, gold maintained a high-level fluctuating pattern. On November 13th, the gold price performed strongly, not only breaking above the 4200 level but also hitting a recent new high of 4244 intraday, before retracing sharply afterward. On the morning of November 14th, the gold price continued to rise, maintaining a volatile rebound driven by multiple technical supports. However, hourly indicators such as RSI showed overbought signals, revealing short-term correction risks.
3.Weekend Precipitous Plunge
A sharp reversal occurred in the market on November 15th, with London Gold plummeting over 105 in a single day, touching an intraday low of 4032. This plunge was triggered by the confluence of multiple short-term bearish factors, including the shift in stance by Fed dovish officials, concentrated profit-taking by holders, and a cooling of safe-haven sentiment.
Nevertheless, the market generally views this as a short-term fluctuation rather than a reversal of the long-term upward trend.
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.