Institution: Gold and Silver Prices See Steep Decline, Caution Advised Amid Low Liquidity
BlockBeats News, December 29th. Last week, with silver's strong rally, it undoubtedly became the focus of attention. Rumors about a short squeeze and additional margin call triggered the final surge in last Friday's market, but now the market sentiment is dissipating. Silver price plummeted over $7 intraday, marking the largest single-day nominal decline ever.
Precious metals are currently in an emotion-driven market, with gold also suffering from profit-taking today, plunging around 4% intraday. Some analysts point out that we are currently in a rather challenging trading environment. Overall market liquidity is generally low, which often leads to abnormally amplified price swings—hedge funds are reluctant to intervene against the trend to hedge the overbought market, and market makers are also limiting their participation. (Jinshi)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Global economy risks fragmentation! Australia bets on AI as a new growth engine
In a potentially more fragmented and unpredictable global economy over the next 40 years, Australia relies on the deployment and development of artificial intelligence (AI) to drive economic growth.
Europe’s aviation fuel “red alert” in the fourth quarter: Shortfall will reach 510,000 barrels/day, South Korea’s exports surge to a four-year high to urgently fill the gap
According to analysts and shipping data, Europe will face a supply gap for aviation fuel in the fourth quarter, even as it turns to distant suppliers such as South Korea. South Korea's aviation fuel exports to Europe in September are set to reach a four-year high.
Apple (AAPL.US) nears a 5 trillion USD market capitalization, targeting Nvidia: the 1,999 USD foldable screen Duo becomes a critical battle.
Apple (AAPL.US) has unveiled its new iPhone, which could be the ticket for this consumer tech giant to reclaim its position as the most valuable company by market capitalization. The company is not far from reaching this goal.
Facebook and Instagram under Meta (META.US) experienced outages affecting thousands of users in the US last Sunday.
Thousands of users in the United States were unable to access Meta’s social platforms Facebook and Instagram last Sunday.
Crypto prices
More
