Gold selling continued early this week, starting with Monday’s Tokyo market. Prices found brief support around 2670, but later in the day, gold continued to fall sharply due to light trading in the New York market for Veterans Day. Gold dropped further, breaking below last week’s low of 2643, eventually closing at 2610.
Although the U.S. bond market was closed, stronger dollar selling led to more pressure on gold prices. Market speculation that the new Trump administration could bring back inflation pushed interest rates up. This drew investments into stocks, ETFs, and even Bitcoin, while selling pressure on gold intensified. If gold falls clearly below 2600, it may signal an end to its upward trend.
Gold-Dollar Forecast Range: 2650–2600
Note: The information above does not guarantee profit. Please make your own decisions when trading.