Gold price dropped below the crucial resistance-turned-support zone of $2,700 on Wednesday; erasing the gains it had made over the past three weeks. Even with the certainty of the incumbent US president,

Gold was trading at $2,697.51 per troy ounce as of 9 a.m. ET. That’s a +0.48% change since yesterday. The precious metal is up 30.55% since Jan. 1, 2024. Over the last day, its highest trading price was $2,710.44, while its lowest was $2,680.40.

Gold prices plummet as Trump’s election victory boosts the US dollar and Treasury yields. Market sentiment shifts towards higher interest rates, diminishing gold’s appeal. Technical analysis suggests bearish momentum is building, will safe haven demand ...

Gold price met with a fresh supply and eroded a part of the overnight recovery gains. The Trump trade optimism revives the USD demand and weighs on the precious metal. Retreating US bond yields and bets for additional Fed rate cuts could help limit losses.

Gold is up 32.83% from the beginning of the year, as of 9 a.m. ET. The 52-week intraday high reached $2,790.10 on Oct. 31, 2024, and the 52-week intraday low dropped to $1,931.73 on Nov. 13, 2023.

Gold's price has dropped to a three-week low, which could present a good opportunity for investors. Here's why.

On Thursday, Gold price jumped back on the bids, as traders took profits off their USD longs ahead of the Fed interest rate decision. The Gold price rebound extended into American trading after the Greenback witnessed a fresh leg down following the Fed policy announcements.

Gold ring price plunged 5.17% to VND84.4 million (US$3,320.87) per tael Thursday morning, following the tumble of the precious metal on the global market.