Editor’s Note
This article describes a sell-off in precious metals driven by holiday-thinned trading and profit-taking, with gold facing resistance at the $5,000 level amid tempered expectations for U.S. rate cuts.
On the 17th (local time), trading in precious metals markets was thin as major global markets were closed for a traditional holiday. Against a backdrop of slightly cooling expectations for a Federal Reserve interest rate cut, gold encountered resistance at the key psychological level of $5,000 per ounce. Some investors took profits, exacerbating the downward pressure on precious metal prices.
According to a report from Caixin, on February 17th, gold and silver prices plummeted. Spot gold fell below $4,900, dropping over 2% for the day. Spot silver plunged nearly 5%, falling below $73.
Supervisor: Li Shaofei
Editor: Chen Yanxin
Reviewer: Tian Ming
Source: Synthesized from Yangshi Network, Caixin WeChat Public Account, Yangshi Finance
