GOLD turn on the increase right at the beginning of the session
The world gold spot price on the Asian market is around 1,941 USD/ounce, up nearly 3 USD/ounce compared to last week's closing session. The price of gold delivered according to the contract this morning reversed and increased by nearly 2 USD/ounce to 1,944 USD/ounce compared to the previous session's close.
World gold prices reversed to increase at the beginning of the morning session because the market was concerned that the world's second largest economy, China, was entering a state of deflation.
Specifically, last weekend, Trong Quoc announced that the consumer price index (CPI), China's main measure of inflation in October 2023, decreased by 0.2% over the same period last year. The CPI only increased again in August and September, while July still decreased by 0.3%.
After this information, HSBC Bank released analysis that China's deflation has caused difficulties for exporters to this country in Southeast Asian countries, Korea, Taiwan and Germany.
Experts say that deflation in China comes from excess capacity in manufacturing factories, which is pushing down global prices of manufactured goods. China's economic deflation puts strong pressure on regional and global economies.
Investors are concerned that deflation in the world's second largest economy will make global economic growth difficult in the near future, increasing risks, so they have stepped up gold purchases.
World gold prices reversed to increase at the beginning of the morning session because the market was concerned that the world's second largest economy, China, was entering a state of deflation.
Specifically, last weekend, Trong Quoc announced that the consumer price index (CPI), China's main measure of inflation in October 2023, decreased by 0.2% over the same period last year. The CPI only increased again in August and September, while July still decreased by 0.3%.
After this information, HSBC Bank released analysis that China's deflation has caused difficulties for exporters to this country in Southeast Asian countries, Korea, Taiwan and Germany.
Experts say that deflation in China comes from excess capacity in manufacturing factories, which is pushing down global prices of manufactured goods. China's economic deflation puts strong pressure on regional and global economies.
Investors are concerned that deflation in the world's second largest economy will make global economic growth difficult in the near future, increasing risks, so they have stepped up gold purchases.
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