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Dollar Gains Unstoppable, Gold Prices Get Tough?

Don’t miss the opportunity to make a profit, check the gold trend now>>

The majority of Ukraine’s 4 regions voted in favor of joining Russia, and concerns about the geopolitical situation intensified. Coupled with worries about a global economic recession, the price of gold once rebounded to around 1642. However, the US data was better than expected, the Fed officials continued their hawkish interest rate hike expectations, boosting the US dollar to approach a 20-year high again, the US 10-year Treasury yield hit a new high in 12 years, the gold price still faces further downside risks in the short-term. The market needs to pay attention to the support-level near 1600.

The trend of gold can be paid attention to…

-Latest news on the Russian-Ukrainian war
-15:15 ECB President Lagarde speaks on geoeconomic issues in the US and Europe
-22:00 US Existing Home Contracted Sales Index (MoM) (August)
-20:30 US Unemployment Claims for the week ending 9/24
-20:30 The final value of the annualized quarterly rate of real US GDP in the second quarter
-20:30 US Core PCE Price Index (YoY) (August)
-22:00 The final value of the University of Michigan Consumer Confidence Index (September)
Which will affect the trend of gold, and investors must seize the opportunity to place orders.
Daily Focus allows you to understand the gold market, increase profit opportunities, and seize the opportunity immediately.

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Disclaimer: Information above can only be use for references and doesn’t represent our platform’s opinions.

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