PANews reported on April 23 that according to Jinshi, spot gold continued to fall during the Asian session, and the decline once widened to 2%. The reason is that Trump gave up the threat of firing Fed Chairman Powell and expressed optimism about reaching a trade agreement with China, which weakened the safe-haven appeal of gold. Kelvin Wong, senior market analyst for Asia Pacific at Anda, said: "In the short term, the above factors have led to a sell-off in gold prices, bringing it to a very extreme oversold level, but from the perspective of the upper resistance level, there is no sign of any form of bull weakness, so gold prices may still rise."
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