Gold

Gold futures experienced a turbulent trading session on Monday, continuing to recover from a significant price drop that occurred last week. The precious metal has been moving within a narrow trading range following its substantial decline of $ 91 last Monday.

Gold futures experienced a turbulent trading session on Monday, continuing to recover from a significant price drop that occurred last week. The precious metal has been moving within a narrow trading range following its substantial decline of $ 91 last Monday.

Gold futures experienced a volatile trading session today, recovering from a significant decline that saw prices drop by nearly $93 in the previous day. December gold futures initially opened just above the previous day's close, briefly touching a low of $2,605.30 before rebounding and trading above the day's opening price.

The gold market witnessed its most substantial single-day decline in nearly four years, with December gold futures closing at $2,628.50, representing a net decline of $90. This dramatic price movement marks the largest daily price drop since November 2020, sharply contrasting with the previous week's robust gains of $147.

In a dramatic demonstration of gold's enduring role as a safe-haven asset, the precious metal recorded its most substantial weekly gain in years, with December futures climbing an impressive 5.87% ($150.90). The front-month contract opened on as Monday at $2,571.50, reached a weekly high of $2,718.20, reflecting mounting investor concerns over escalating global tensions.

In a significant escalation of the ongoing conflict in Ukraine, Russia launched a new medium-range ballistic missile against the central Ukrainian city of Dnipro on November 21, 2024. Russian President Vladimir Putin confirmed the deployment during a televised address from the Kremlin, broadcast by the state agency Sputnik.

Gold futures have continued its impressive gains, marking three consecutive days of price advances amid escalating global tensions and significant geopolitical developments. The precious metal's value has been bolstered by recent statements from Russian President Vladimir Putin, who has modified Russia's nuclear doctrine, creating ripples of concern in international markets.

The gold market has recently demonstrated remarkable resilience and potential. After experiencing an intraday low of $2,541.50 on Thursday, the market staged a notable recovery. Friday saw a modest decline of just $3.20, followed by a surge in gold futures that propelled prices upward.

Gold prices demonstrated remarkable strength in New York trading, surging $47.40 to reach $2,615.20 for December futures, marking a 1.85% daily gain.

Gold futures concluded Friday's trading session with a modest decline of $4.20, settling at $2,566.30 for the December contract, marking its sixth consecutive day of losses. While the precious metal continues its downward trajectory, the intensity of daily declines has notably diminished since Monday's substantial $85 selloff.