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Qingdao International Nonferrous Metals Trading Center, asphalt, copper, aluminum nickel, Qingguo Bank, ICBC custody, phone QQ: membership recruitment, agency, account opening, investment, high rebate Qingdao International Platform Information: Bank of America (..) Private Bank Business strategist Rh said that the good US employment data and wage growth have had an extremely negative impact on gold investors. However, investors are currently mainly concerned about the UK's departure from the EU being rejected by the High Court and the consequences of the US election. A series of political uncertainties, these factors are undoubtedly good for gold prices.
h further said that the employment data in the United States is extremely strong, which is enough to support the Federal Reserve to raise interest rates this month, and this is undoubtedly not good news for gold prices, especially after the election next Tuesday and the market caused by Brexit. This is especially true after short-term risks dissipate.
The Federal Reserve’s monetary policy decision on Wednesday maintained its monetary policy unchanged, and at the same time stated that the reasons for another interest rate hike are strengthening. More evidence needs to be waited for before the next action, because the return rate of holding gold is Zero, the rise in real interest rates reduces the opportunity cost of holding gold and prompts investors to hold riskier assets. The rise in interest rates also boosts the U.S. dollar, and the U.S. dollar and gold usually have a trade-off relationship.
B, chief market strategist at Trader R, said that the main factor affecting gold prices currently is the outcome of the election, rather than the violent volatility caused by whether the Federal Reserve will raise interest rates in March. The election may lead to the Federal Reserve taking stabilization measures in March.
Standard & Poor's said that as Republican presidential candidate Trump gradually leads the polls, the nature of gold as a safe-haven asset is gradually enhanced, and investors use gold to hedge risks, but no matter who wins the election Win, and the results are expected to be positive for gold prices, because no matter who is talking about trade protectionism, it's just to varying degrees, and uncertainty will undoubtedly help gold prices.
Spot gold fell early in the session and closed up 0.4% at $3.00, still below the one-month high of $0.00 hit on Wednesday. Spot silver rose 0.4% to $3.00 an ounce, retreating from its highest level since March reached on Wednesday.
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