Gate News reports that on March 19, gold prices plummeted by 7% on Thursday, marking the seventh consecutive trading day of decline. Market analysis indicates that conflicts in the Middle East have driven up energy prices and sparked inflation concerns, leading markets to expect major central banks to maintain high interest rates. Daniel Galli, a commodities strategist at TD Securities, a major Canadian financial institution, stated: “Currently, gold has become a widely held investment among institutional investors, thanks to currency devaluation trades over the past year. However, the foundation for these trades is now weakening. In the short term, we still see downside risks in the market. Gold has significant room to fall, but at the same time, it can still maintain the support provided by its upward trend during the bull market.”
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