XAUUSD -Gold tends to decrease slightly, should you buy or sell?Last night - early this morning, investors continued to run out of gold as this asset increased in price for 5 sessions last week, up more than 5%, despite the sharp decline in the USD and geopolitical tensions in the region. The Middle East has not cooled down yet.
The world's largest gold mining product SPDR version on October 17 still surprised with a net sale of up to 6.92 tons of gold. Since the beginning of October, this place has net sold up to 7 versions and only had 2 slight net buying versions. SPDR's buying level since the beginning of the month is only 1.8 tons of gold, while net selling is up to 20.19 tons of gold.
Introducing the end of the golden month, because the report will be stronger than expected in the US, creating forecasts in the market that the Fed will raise interest rates again at its meeting in late October and early November next and maintain best. slower than forecast.
Experts say that, as the USD remains at a 16-year high, the opportunity cost for gold trading increases. Meanwhile, the world's number one country in gold consumption, China, is still gloomy and will find it difficult to boost gold prices further.
