Gold Rebounds After Crash, Bringing Buyers Back In
Gold prices remained stable in early Asian trading, after a strong rebound from a sharp post-record fall. Bullion held above $4,920/ounce, after surging more than 6% in the previous session—helped by improving risk-on sentiment and a weaker US dollar.
Despite the rebound, gold remains far from its peak. At Tuesday's close, gold was about 12% below its January 29 record high, but its year-to-date performance remains solid—up nearly 15%.
Last month's major rally was fueled by a combination of speculative momentum, geopolitical safe-haven pressure, and concerns about central bank independence. But the euphoria abruptly ended last weekend: the market suffered a sharp correction after warnings that the rally had been too fast and too high—leading gold to its worst decline since 2013.
This morning, gold edged down about 0.4% to $4,929.48/ounce at 7:10 a.m. Singapore time. Other metals also weakened: silver fell about 1.3% to $84.09, while platinum and palladium also declined. The Bloomberg Dollar Spot Index closed the previous session down 0.3%, giving gold room to remain resilient, although volatility has not completely subsided. (alg)
Source: Newsmaker.id
