Gold prices in the international market increase slowly due to large selling pressure every time gold moves up and the USD strengthens as Donald Trump's US presidency approaches.
Gold prices increased again mainly because of the previous strong downward adjustment and investors still expect a long-term upward trend of this precious metal product when the US and the world are entering a down cycle. interest rates to support economic growth.
It is expected that the US Federal Reserve (Fed) will reduce interest rates by another 0.25 percentage points at the December meeting and will reduce them several more times in 2025 and the bottom may fall in early 2026. When the Fed reduces interest rates interest rates, the USD will theoretically depreciate.
The prospect of a weaker USD has clearly decreased with new moves from Mr. Donald Trump. However, when countries step up pumping money and Mr. Trump also wants to intervene in the Fed to gain an advantage in trade, inflation in the US as well as around the world may escalate. This is a factor that is beneficial for gold.
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