XAUUSD-After a period of sharp decline, will gold increase again
World gold prices fell sharply with spot gold down 21.3 USD compared to brightness, falling to 1,828.4 USD/ounce. Gold futures last traded at $1,844.60 an ounce, down $21.50 from the bright spot.
December gold futures had their lowest level in 10 months in this morning's trading session (Vietnam time). The USD reached a 10-month high and US Treasury bonds rose to their highest level in 16 years, which are factors hindering gold's reversal.
Another factor working against gold is the improvement in club sentiment in the market. Accordingly, consultants became more optimistic when US President Joe Biden signed a temporary budget executive order, promoting the risk of a government shutdown. This law helps analyze the budget to ensure the coalition government can maintain operations within 47 days (until November 17). Before that, markets were firmly looking at the possibility of a government shutdown at the end of last week.
Most experts believe that it will be difficult for gold to reverse in the short term as the US Federal Reserve's (Fed) monetary policy setting remains very positive. However, they still maintain their optimism about gold in the medium and long term.
December gold futures had their lowest level in 10 months in this morning's trading session (Vietnam time). The USD reached a 10-month high and US Treasury bonds rose to their highest level in 16 years, which are factors hindering gold's reversal.
Another factor working against gold is the improvement in club sentiment in the market. Accordingly, consultants became more optimistic when US President Joe Biden signed a temporary budget executive order, promoting the risk of a government shutdown. This law helps analyze the budget to ensure the coalition government can maintain operations within 47 days (until November 17). Before that, markets were firmly looking at the possibility of a government shutdown at the end of last week.
Most experts believe that it will be difficult for gold to reverse in the short term as the US Federal Reserve's (Fed) monetary policy setting remains very positive. However, they still maintain their optimism about gold in the medium and long term.
