GOLD struggling with unpredictable developments of the economy
Gold prices struggle with unpredictable developments in the US economy and geopolitical instability on a global scale. World gold price trades at 1,986 USD/ounce. Compared to the same trading hour yesterday morning, gold prices increased slightly.
Gold prices fell further below the threshold of 2,000 USD/ounce when the US announced that the country's labor market continued to weaken with the number of new jobs in October only reaching 113,000, lower than the expectation of 149,000 by economists. presented previously.
The Federal Reserve (Fed) decided to keep interest rates unchanged at 5.25% -5.5%. At the same time, the FED also announced that further decisions on monetary policy still depend on economic data and financial and credit conditions.
In response to the above information, the USD Index increased to 107 points, helping the USD increase in price compared to 6 other strong currencies. Accordingly, many people have put capital into stocks, causing the flow of money into the gold market to be limited. Today's world gold price fluctuation is inevitable.
Gold prices fell further below the threshold of 2,000 USD/ounce when the US announced that the country's labor market continued to weaken with the number of new jobs in October only reaching 113,000, lower than the expectation of 149,000 by economists. presented previously.
The Federal Reserve (Fed) decided to keep interest rates unchanged at 5.25% -5.5%. At the same time, the FED also announced that further decisions on monetary policy still depend on economic data and financial and credit conditions.
In response to the above information, the USD Index increased to 107 points, helping the USD increase in price compared to 6 other strong currencies. Accordingly, many people have put capital into stocks, causing the flow of money into the gold market to be limited. Today's world gold price fluctuation is inevitable.
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