Deteriorating geopolitical situation pushes gold prices above $2,000
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Although the US Non-Farm Payrolls data on Friday showed a strong recovery in the labor market, the geopolitical situation in Russia and Ukraine continued to deteriorate, causing gold prices to remain high. In addition, the United States is discussing the possibility of further sanctioning Russia by banning Russian oil imports, driving the risk aversion in the gold market to continue to rise. The market is concerned about the third round of negotiations between Russia and Ukraine on 3/7. If the negotiations fail, it is expected that the price of gold will continue to rise and set a new high.
The trend of gold can be paid attention to…
-21:30 US CPI (FEB)
-21:30 U.S. Unemployment Claims for the week ending 3/5
-Lastest news from Russia and Ukraine
Which will affect the trend of gold, and investors must seize the opportunity to place orders.
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