Gold trading strategy today, Buy trend returns
Updated
Gold prices steadied early in the US session on more safe-haven demand after a weekend terrorist attack in Jordan left three US soldiers dead.
The recent attack on US forces in Jordan threatens to spread conflict in the Middle East, when US leaders are under pressure from Congress to take action in response.
The world is anxiously waiting for the US military's response. President Biden said the US will respond. Developments in the Middle East cause gold prices to continue to rise.
However, analysts say that the continuous adjustment of market expectations about when to cut interest rates by the US Federal Reserve (Fed) could hinder the rise in gold prices.
The US Dollar Index (DXY) measures the greenback's fluctuations with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF), at 103.48 points.
In China, a Hong Kong court issued an order to liquidate Evergrande Group after the company failed to reach an agreement with creditors. The liquidation will be closely watched by the market.
The recent attack on US forces in Jordan threatens to spread conflict in the Middle East, when US leaders are under pressure from Congress to take action in response.
The world is anxiously waiting for the US military's response. President Biden said the US will respond. Developments in the Middle East cause gold prices to continue to rise.
However, analysts say that the continuous adjustment of market expectations about when to cut interest rates by the US Federal Reserve (Fed) could hinder the rise in gold prices.
The US Dollar Index (DXY) measures the greenback's fluctuations with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF), at 103.48 points.
In China, a Hong Kong court issued an order to liquidate Evergrande Group after the company failed to reach an agreement with creditors. The liquidation will be closely watched by the market.
Note
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