Gold (XAU/USD) experienced its steepest daily drop in five years, falling 5.7% due to a stronger US dollar, profit-taking, and a softened stance by US President Trump on the China deal. After scaling an all-time peak of $4,381.21, the sharp pullback sees technical indicators, specifically a double top pattern, pointing to a potential target price around the $4020/oz mark. This suggests further downside is possible.
21-10-2025 20:08 GMT
by Zain Vawda