TechFlow, Dec 29 — According to Jinshi Data, during Monday's highly volatile trading session, spot silver fell as much as 8%, while spot gold dropped below $4,400 per ounce. Saumil Gandhi, Senior Commodities Analyst at HDFC Securities, said, "Gold and silver prices retreated from record highs on Monday as traders took profits after the record-breaking rally." Gandhi further noted that both gold and silver are in overbought territory on higher timeframes, a cautionary signal indicating a healthy pullback is needed before the uptrend resumes. He added, "We expect gold prices to face further corrective pressure as investors adjust and rebalance their positions at the end of the month and year."
Add to Favorites
Share to Social Media
