Post by account_disabled on Jan 8, 2024 13:05:14 GMT 2
Trade tensions have created buying power for gold as a safe-haven asset. Additionally, the trade war is spreading to other countries. The US filed a formal complaint with the World Trade Organization (WTO) about India's retaliatory tariffs on US products. Next week a US delegation will visit India to discuss their trade dispute. and in particular the US decision to revoke India's special trade status. If the trade war situation continues It will create buying pressure to support the gold price. However, the gold price has been under pressure. from the weakening of the euro currency.
Mr. Ollie Rehn, a member of the European Executive Council, told Phone Number List the German newspaper Boersen Zeitung that The Eurozone economic slowdown is no longer temporary. And the European Central Bank (ECB) will need to carry out more stimulus if it hopes to achieve its goals. Such an attitude is oppressive. German 10-year government bond yields fell, with Eurozone government bond yields falling to record lows this week and the European Central Bank (ECB) deposit rate at -0.4% for the first time, a sign. Latest that The market is prepared for an interest rate cut soon.
Such issues put pressure on the euro currency to weaken. which has a negative effect on the price of gold Estimate that the price of gold during this period Still following the framework between important support and resistance levels during the day. with the characteristics of gradually adjusting up If the gold price still cannot pass the resistance level of 1,427-1,439 dollars per ounce. Makes it estimated that the price of gold There may be a contraction to test the support level of 1,411 dollars per ounce. YLG Investment Strategy recommends short-term investment.
Mr. Ollie Rehn, a member of the European Executive Council, told Phone Number List the German newspaper Boersen Zeitung that The Eurozone economic slowdown is no longer temporary. And the European Central Bank (ECB) will need to carry out more stimulus if it hopes to achieve its goals. Such an attitude is oppressive. German 10-year government bond yields fell, with Eurozone government bond yields falling to record lows this week and the European Central Bank (ECB) deposit rate at -0.4% for the first time, a sign. Latest that The market is prepared for an interest rate cut soon.
Such issues put pressure on the euro currency to weaken. which has a negative effect on the price of gold Estimate that the price of gold during this period Still following the framework between important support and resistance levels during the day. with the characteristics of gradually adjusting up If the gold price still cannot pass the resistance level of 1,427-1,439 dollars per ounce. Makes it estimated that the price of gold There may be a contraction to test the support level of 1,411 dollars per ounce. YLG Investment Strategy recommends short-term investment.