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Gold's rise on Tuesday was only blocked during the U.S. session and fell back. However, the strong rise of the U.S. index (.) was blocked at a high level, limiting gold's fall. On Monday, Federal Reserve officials once again stated that they expected to raise interest rates once this year, which caused gold's rebound in the U.S. session to abort. Both the daily and hourly patterns showed obvious signs of weakening. However, in the end, the upward movement of the U.S. index was blocked and became gold's savior. Moreover, it can be seen from the performance of gold that the market's attention to the speeches of Federal Reserve officials has significantly decreased. Their remarks in support of interest rate hikes cannot continue to affect gold fluctuations. Investors' attention to economic data is gradually increasing, and this is also an aspect that we need to pay attention to. In addition, the U.S. election also had a certain impact on the gold market. The uncertainty has reflected the safe-haven properties of gold.
The Gold Council estimates that about 100,000 tonnes of gold demand has disappeared this year, in part because jewelers have shut down shop in protest at the Indian government’s imposition of excise taxes on jewelery made and sold domestically. Jewelry wholesalers in Mumbai say the tax is a headache About half of the country's jewelery workers have returned home due to store closures before months-long protests began. Many people have not yet returned to work.

Hunan Weide Investment Hotline
[Manager Zhu’s QQ Email
@qq
] Bulk sincerely invites agents at all levels to cooperate.