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
DOW JONES facing Daily Resistance
February 06, 2025
Market Insights
Inverted Head & Shoulders in Gold signal...
July 04, 2025
Market Insights
Gold stalls at $3,345 ahead of US CPI– W...
June 11, 2025
Market Insights
Smart recovery in Yen pairs. EUR/JPY bou...
March 05, 2025
Market Insights
Daily Structure: Bullish Flag formation;...
September 09, 2025
Market Insights
NASDAQ making a Bullish Flag in 1HR time...
May 08, 2025
Market Insights
