Source: Reuters (via feed)
Gold prices declined by more than 1% on Monday amid thin trading volumes. Both U.S. and China markets were closed due to local public holidays. This reduced market activity contributed to the price drop. Additionally, some traders took profits after gold’s 2.5% rise in the previous session. The combination of lighter trading and profit-taking pressured the metal. Despite this, gold remains sensitive to market conditions shaped by major economies. The subdued trading environment could affect short-term price movements. Overall market sentiment appeared cautious during this period.
BizTrendWire Insight:
Lower trading volumes due to holiday closures can increase price volatility in commodities like gold. Profit-taking often follows sharp price gains, influencing short-term market behavior.
Lower trading volumes due to holiday closures can increase price volatility in commodities like gold. Profit-taking often follows sharp price gains, influencing short-term market behavior.
