GOLD - USD price increases, gold is still hot
Updated
Gold prices fell after the US economic report was better than expected. The market leans towards the "hawkish" side of monetary policy, with many opinions supporting the US Federal Reserve to continue raising interest rates.
According to published data, America's third quarter GDP is estimated to increase by 4.9%. Inflation index has been controlled. The US Department of Commerce said orders for long-lasting goods increased by 4.7% (equivalent to 13.2 billion USD) in September. This number increased higher than forecasts of economic experts.
Better-than-expected US economic data caused the USD to increase in price, supporting Treasury bond interest rates. This makes the attractiveness of non-yielding assets such as gold significantly decrease.
The recent recovery was mainly driven by capital flows seeking safe havens due to concerns that the conflict between Israel and the Islamist force Hamas would spread.
Gold prices cannot return to the 2,000 USD/ounce mark in the short term.
According to published data, America's third quarter GDP is estimated to increase by 4.9%. Inflation index has been controlled. The US Department of Commerce said orders for long-lasting goods increased by 4.7% (equivalent to 13.2 billion USD) in September. This number increased higher than forecasts of economic experts.
Better-than-expected US economic data caused the USD to increase in price, supporting Treasury bond interest rates. This makes the attractiveness of non-yielding assets such as gold significantly decrease.
The recent recovery was mainly driven by capital flows seeking safe havens due to concerns that the conflict between Israel and the Islamist force Hamas would spread.
Gold prices cannot return to the 2,000 USD/ounce mark in the short term.
Note
🟢 GOLD BUY 1976-1978💲✔️TP1 1986
✔️TP2 1993
⚠️SL 1970
Note
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