Editor’s Note
Thin holiday trading and fading rate-cut expectations have pressured precious metals, with gold struggling to hold the $5,000/oz level as investors take profits.
Market Context
On February 17th, according to CCTV Finance, many major global markets were closed for traditional holidays on the 17th local time, leading to thin trading in the precious metals market. Against the backdrop of cooling expectations for a Federal Reserve interest rate cut, gold encountered resistance at the key psychological level of $5,000 per ounce. This, combined with profit-taking by some investors, intensified the downward pressure on precious metal prices.
