Analyst: Gold prices retreat from highs as the market continues to expect the Federal Reserve to ease monetary policy next year

According to Odaily, after reaching a record high last weekend, gold prices fell sharply on Monday, with international spot gold prices once retreating to around $4,300 per ounce. In the thin liquidity environment before the year-end holidays, gold is facing strong profit-taking, which has amplified the correction after the sharp rise in recent months. In addition, the moderate rebound of the US dollar has also increased pressure on gold. However, some analysts believe that despite the short-term correction in gold prices, the overall macroeconomic backdrop still supports its trend. The market continues to expect the Federal Reserve to ease monetary policy next year. In addition, US political developments, especially concerns about central bank independence, have also maintained an uncertain environment that favors safe-haven assets. (Golden Ten Data)