Gold price in the world today: Bulls are slowly coming back
World gold price rose to around $1,930.7/ounce, up $2.7/ounce from last night. Gold futures for December delivery on the Comex New York exchange stood at $1,961.5/ounce.
Gold prices dropped significantly in the global market due to a strong increase in the USD following news about China.
The USD rose by more than 0.6% in session 8/8, with the DXY index increasing by 102.7 points.
Gold declined mainly because of the USD surge, as the yuan (NDT) experienced a sharp drop after China released disappointing economic data, including weak import and export figures.
Gold prices dropped significantly in the global market due to a strong increase in the USD following news about China.
The USD rose by more than 0.6% in session 8/8, with the DXY index increasing by 102.7 points.
Gold declined mainly because of the USD surge, as the yuan (NDT) experienced a sharp drop after China released disappointing economic data, including weak import and export figures.
Commento:
A lower clear will increasingly create a bearish technical trend that will converge with the IGCS signal. The latter is also closely linked to the lows from June. Confirmation of a breakout below could usher in a revisit to the March low.
Commento:
The recent volatility in the bond market where 10-year yields hold around 4% is a strong sign that investors are losing faith in the dollar.
