Summary
- It said gold prices have fallen about 22% from their record high, officially entering a bear market.
- It said the recent decline in gold prices likely deepened as profit-taking selling after a sharp rally coincided with changes in the macro environment.
- It reported that expectations of easing geopolitical risk in the Middle East, a stronger dollar, and uncertainty over the interest-rate path weakened safe-haven demand and increased downward pressure on gold prices.
Forecast Trend Report by Period
Gold prices have fallen more than 20% from their all-time high, prompting analysis that the metal has entered a bear market.
On the 23rd (local time), The Kobeissi Letter said on X that "gold prices are down about 22% from the peak, officially entering a bear market."
Recently, gold's decline is seen as having deepened as profit-taking after a sharp rally coincided with shifts in the macro environment. Expectations of easing geopolitical risks in the Middle East, a stronger dollar, and uncertainty over the interest-rate path were cited as factors that have weakened safe-haven demand and intensified downward pressure on gold prices.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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