- While the crypto market reacted to the failed US-Iran talks with a decline on Sunday, April 12, precious metals will show volatility on Monday, April 13.
- Most likely, the gold price will fall to $4,600 and the bearish trend will continue.
Given the recent turmoil in the digital asset industry, it’s worth asking why gold holders should brace themselves for a XAU price drop on April 13.
How to reported redaction Happy Coin NewsOn Sunday, the prices of many cryptocurrencies fell following the disappointing results of peace talks between the US and Iran. With precious metals trading not yet active, the market has yet to react to this news, but the nature of its impact can be gauged by the fluctuations in the prices of tokenized assets.
Stablecoin price on April 12 Tether Gold (XAUt), linked to the gold rate, decreased by 0,5% and down up to $4,701. Such a change in the coin’s price over the weekend is considered significant, as the XAU trading suspension typically results in a flat market.
The decline in the XAU price can be explained by traders’ confidence in the emergence of a bearish trend in the precious metal market on Monday. This belief is based on the fact that the XAU price rise on April 8 was due to the ceasefire in the Middle East. Therefore, any escalation in the situation will trigger a countertrend.
If nothing changes for the better regarding the settlement of the conflict in the Middle East by April 13, then gold will most likely fall in price by at least 1% from current value up to $4,700. Given that the market has entered a protracted bearish trend, it can be assumed that the downward trend will continue after a breakout of the support barrier at $4,700, and we will see a price of $4,600 next week.
Possible fall in the XAU rate
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