Gold declines amid DeepSeek's breakout success – ING

FXStreet Insights Team FXStreet

Gold declined yesterday as the global rout in technology stocks, sparked by the Chinese AI startup DeepSeek's breakout success, ING’s commodity analysts Warren Patterson and Ewa Manthey note.

Gold is up more than 4% so far this year

“In precious metals, Gold also declined yesterday as the global rout in technology stocks, sparked by the Chinese AI startup DeepSeek's breakout success, prompted traders to cover margins.”

“Still, Gold is up more than 4% so far this year and we believe trade frictions and geopolitical concerns will push it to another record high this year.”

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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