Commodities: Profit-Taking Hits Gold

2025-10-22 02:30:00 ET

By Warren Patterson , Ewa Manthey

Metals - Precious metals sell-off

Spot gold prices came under significant pressure yesterday, with the market settling 5.3% lower on the day. This downward pressure has only continued in early morning trading in Asia today. The catalyst appears to be profit-taking in a market that has been hugely overbought in recent weeks. The scale and pace of the rally in spot gold have been dramatic, with prices having gained as much as $1,000/oz since late August. Clearly, market participants were getting increasingly nervous over the sustainability of the uptrend. In addition, comments from President Trump that he expects a “good deal” when it comes to trade talks with China have only added to the downward pressure on gold....

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