Gold losses its shine as Trump trade fully materializes.
The US Dollar Index (DXY) rose over 1.8% to a peak of 105.32 on Wednesday as Donald Trump has become 47th President of USA. US stock futures were also up on the news, with the S&P 500 futures contract up 2.2% at 5,909 in pre-market trading and the Dow 30 futures contract up over 1.3% to 42,770, as markets rejoiced in anticipation of Trump’s likely lower tax agenda. Likewise, Bitcoin rose to a new all-time high of $75,407 due to the looser regulatory environment for crypto promised by Trump.
Gold is currently trading at $2700 levels & its almost down 90$ from life high levels. Silver is also down roughly 3% as Dollar is gaining strength. Technically, weekly Gravestone Doji is doing its work & the next supports are coming at 2691$ Levels. If market is further breaking down that support then one can expect more weakness in Bullion Markets.
Recent News
Bullish Flag Pattern Suggests Further Up...
March 18, 2025
Market Insights
DOW JONES forming a bullish flag near 47...
October 29, 2025
Market Insights
Natural Gas 4HR Chart False Breakout at...
March 05, 2025
Market Insights
Dow Jones Navigates Key Levels A Bullish...
June 23, 2025
Market Insights
Nasdaq 100 Plunges to Critical Support a...
April 07, 2025
Market Insights
AUDUSD gave death crossover in 4Hr time...
October 23, 2024
Market Insights
