DinhhongTrader

DinhhongTrader Updated 

The price of gold has dropped below $1,970 as Fed policymakers express confidence in raising interest rates to fight long-term inflation in the US. Meanwhile, the S&P500 futures contracts have shown a strong recovery. On Monday, President Biden and House Minority Leader Kevin McCarthy discussed debt ceilings without reaching an agreement. The President of St....

DinhhongTrader Updated 

Gold prices decreased sharply this morning, standing at $1,960 at 8:45 am on May 23rd (Vietnam time), down $19 from the previous morning. This drop is due to technical chart weakening and the recovery of the USD, which reduced gold's appeal to buyers holding other currencies. The market is closely watching the debt ceiling talks, and the dovish Fed attitude could...

DinhhongTrader

Gold price traded at HKEX:1 ,983 per ounce. US economic data released last week had better-than-expected results, plus the threat of inflation continued to increase, causing gold prices to fall to a 2-week low. According to many Wall Street analysts, gold will continue to fall deeper in the near future. Worryingly, the gold price is unlikely to recover in a short...