According to Warren Patterson and Ewa Manthey, commodity analysts at ING, gold fell yesterday as technology stocks surged globally, driven by the breakthrough success of the Chinese AI startup DeepSeek.
This year, gold has increased by more than 4%.
"In terms of precious metals, gold also fell yesterday as traders covered margins due to the global dominance in technology stocks, which was triggered by the breakthrough success of the Chinese AI startup DeepSeek."
"However, gold has risen over 4% so far this year, and we think trade tensions and geopolitical worries will cause it to reach yet another record high."
This year, gold has increased by more than 4%.
"In terms of precious metals, gold also fell yesterday as traders covered margins due to the global dominance in technology stocks, which was triggered by the breakthrough success of the Chinese AI startup DeepSeek."
"However, gold has risen over 4% so far this year, and we think trade tensions and geopolitical worries will cause it to reach yet another record high."
