Gold prices continue to decline
ActivTrades senior analyst Ricardo Evangelista said that investors' risk appetite also improved with Federal Reserve Chairman Powell's speech last week combined with weaker employment data. The US projections have increased expectations that the Fed will end its current interest rate hike cycle.
In a recent note, Heraeus Metals experts said that for gold to sustainably break above 2,000 USD/ounce, there needs to be a clearer signal from the Fed that an interest rate cut is about to happen and that investors Investors are returning to exchange-traded funds.
Domestic gold prices often move in the same direction as world gold prices, so it is likely that gold prices will decrease in the session on November 8.
World gold prices continued to decline this morning with spot gold down 19.3 USD to 1,949.4 USD/ounce. Gold futures last traded at $1,955.70 an ounce, down $17.80 from the bright spot.
The gold market has seen its third straight bearish session as consultants look for fresh signals on Bank of America's interest rate settings.
Daniel Ghali, commodity strategist at TD Securities, thinks traders will start looking at economic data and potential action from the U.S. Central Bank and gold will react based on whatever comes out. Bring back data. According to this expert, gold is unlikely to grow if data does not find economic weakness.
Recently, in their speech, a series of US Federal Reserve (Fed) officials maintained a balanced view on the next decisions of central banks, but noted that they will focus focus more on economic data and the performance of longer-dated bonds.
In a recent note, Heraeus Metals experts said that for gold to sustainably break above 2,000 USD/ounce, there needs to be a clearer signal from the Fed that an interest rate cut is about to happen and that investors Investors are returning to exchange-traded funds.
Domestic gold prices often move in the same direction as world gold prices, so it is likely that gold prices will decrease in the session on November 8.
World gold prices continued to decline this morning with spot gold down 19.3 USD to 1,949.4 USD/ounce. Gold futures last traded at $1,955.70 an ounce, down $17.80 from the bright spot.
The gold market has seen its third straight bearish session as consultants look for fresh signals on Bank of America's interest rate settings.
Daniel Ghali, commodity strategist at TD Securities, thinks traders will start looking at economic data and potential action from the U.S. Central Bank and gold will react based on whatever comes out. Bring back data. According to this expert, gold is unlikely to grow if data does not find economic weakness.
Recently, in their speech, a series of US Federal Reserve (Fed) officials maintained a balanced view on the next decisions of central banks, but noted that they will focus focus more on economic data and the performance of longer-dated bonds.
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✔️TP1 : 1960
✔️TP2 : 1965
❌SL: 1941