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Institution: Gold and Silver Prices See Steep Decline, Caution Advised Amid Low Liquidity
BlockBeats News, December 29th. Last week, with silver's strong rally, it undoubtedly became the focus of attention. Rumors about a short squeeze and additional margin call triggered the final surge in last Friday's market, but now the market sentiment is dissipating. Silver price plummeted over $7 intraday, marking the largest single-day nominal decline ever.
Precious metals are currently in an emotion-driven market, with gold also suffering from profit-taking today, plunging around 4% intraday. Some analysts point out that we are currently in a rather challenging trading environment. Overall market liquidity is generally low, which often leads to abnormally amplified price swings—hedge funds are reluctant to intervene against the trend to hedge the overbought market, and market makers are also limiting their participation. (Jinshi)
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