Gold whacked in biggest one-day drop in over a year as Middle East fears ease

seekingalpha04-22

Gold futures fell more than 2% on Monday as worries eased over a wider Middle East conflict, trimming safe-haven demand for the metal and boosting riskier assets such as equities. Iran downplayed ...

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Iran downplayed ...</p>\n\n<a href=\"https://seekingalpha.com/news/4091943-gold-whacked-in-biggest-one-day-drop-in-over-a-year-as-middle-east-fears-ease\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Gold whacked in biggest one-day drop in over a year as Middle East fears ease</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGold whacked in biggest one-day drop in over a year as Middle East fears ease\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-22 22:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4091943-gold-whacked-in-biggest-one-day-drop-in-over-a-year-as-middle-east-fears-ease><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Gold futures fell more than 2% on Monday as worries eased over a wider Middle East conflict, trimming safe-haven demand for the metal and boosting riskier assets such as equities. Iran downplayed ...</p>\n\n<a href=\"https://seekingalpha.com/news/4091943-gold-whacked-in-biggest-one-day-drop-in-over-a-year-as-middle-east-fears-ease\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0496367417.USD","symbol_name":"富兰克林黄金和贵金属A（acc）","start_time":0,"source_url":"https://seekingalpha.com/news/4091943-gold-whacked-in-biggest-one-day-drop-in-over-a-year-as-middle-east-fears-ease","article_id":"2429208279","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1222279154/image_1222279154.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2429208279","pubTimestamp":1713796533,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Gold futures fell more than 2% on Monday as worries eased over a wider Middle East conflict, trimming safe-haven demand for the metal and boosting riskier assets such as equities. 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Iran downplayed Friday's Israeli retaliatory missile attack, which suggests that any major escalation is not likely to be immediately forthcoming. \"As prospects for a near-term rate cut by the Federal Reserve diminish and optimism grows regarding the avoidance of an overt conflict between Israel and Iran, gold prices could be poised for a correction,\" ActivTrades analyst Ricardo Evangelista said. The most-active Comex gold contract (XAUUSD:CUR) for June delivery trades -2.5% to ~$2,532.80/oz, on pace for its worst one-day decline since February 3, 2023, when it fell 2.8%. Geopolitical tensions coupled with robust central bank buying had driven gold to a record intraday high of $2,448.80/oz on April 12; the front-month contract gold for April delivery posted a new record close on Friday at $2,398.40/oz. ETFs: (NYSEARCA:GLD), (NYSEARCA:GDX), (GDXJ), (IAU), (NUGT), (PHYS), (GLDM), (AAAU), (SGOL), (BAR), (OUNZ) Newmont (NEM) is one of the day's biggest losers on the S&P 500, -3%; among other miners headed lower, Barrick Gold (GOLD) -2.8%, Kinross Gold (KGC) -4.4%, Eldorado Gold (EGO) -2.7%, DRDGold (DRD) -6.3%, AngloGold Ashanti (AU) -7%, Gold Fields (GFI) -4.4%, Harmony Gold (HMY) -6.5%. Analysts at UBS now forecast gold ending this year at $2,400/oz, up from previous guidance of $2,200/oz, and trading as high as $2,500 this year, as investors fear missing out on the metal's rally, although trading may pause to take a breath in the near term. \"Although gold's correlation with rates is currently in question, we still think that Fed easing and the outlook for lower real rates is the main driver for bullish gold views,\" UBS said.  More on gold and gold miners  Gold At $3000 Per Ounce Is Possible GLD: Gold To The Moon Is Bad News - Part 2 Gold's Battle Royale: Inflation Vs. 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