Gold prices experience significant drop due to hopes of a Lebanon-Israel ceasefire and the announcement of Scott Bessent as US Treasury Secretary. US Treasury yields fall and the dollar weakens in response to Bessent’s expected policies. Technical analysis indicates a bearish trend for gold in the short term, with potential support and resistance levels identified. […]
The post Gold’s (XAU/USD) Sharp Drop: Ceasefire Optimism and Bessent’s Impact on Markets appeared first on Action Forex.
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