Gold prices plunged this week, giving up almost $75 per ounce. This occurred after hitting the highest value on record when gold traded to approximately $2153 on Monday, only to close over $100 below the new record high at $2048.

Market participants are beginning to lighten their trading activities as the holiday season unfolds. We can expect to see volume decline as traders begin to square their books at the end of the year.

Analysts and market participants are overwhelmingly optimistic that the Federal Reserve has ended its quantitative tightening (QT) cycle, which included aggressive rate hikes. This series of QT began in March 2022.