Fueled by the latest crisis in the Middle East,gold futuresOn Friday (13th), it jumped more than 3%, regaining the integer level of 1,900 U.S. dollars. This week, it rose 5.2% in total, rising by about 100 U.S. dollars in one breath, drawing an end to a dramatic week.
New York for December deliverygold futuresIt closed up $58.50, or 3.1%, at $1,941.50 an ounce.
gold futuresIt rose 5.2% this week, its best weekly performance since March.
goldThe spot price rose US$58.55, or 3.2%, to US$1,928.42 per ounce, the largest one-day increase since March 17.goldThe spot price fell to an intraday low of $1,810.10 last Friday, and if it falls by about $10 more, it will fall below the $1,800 integer level.
goldSpot prices rose 5% this week, the largest weekly gain since March.
Israel warned late Thursday that more than 1.1 million civilians in the Gaza Strip must evacuate within 24 hours, indicating that Israel is preparing to launch a large-scale ground attack on Gaza.
Kitco.com analyst Neils Christensen said: “The growing chaos in the Middle East continues to ignitegoldThe demand for safe havens has also put pressure on short sellers in the market. “
Edward Moya, senior market analyst at OANDA, said: “If the geopolitical situation becomes more obscure, gold prices are expected to advance to $2,000 this year. We have risen from more than $1,800 to more than $1,900, and $2,000 is not far away.”
It is worth noting that althoughdollar index (DXY) rose for two days in a row, restarting the rising momentum of the past three months.goldThe rally continues.goldIt is priced in US dollars, so when the US dollar appreciates, it usually means higher costs for overseas buyers, which is not good for gold prices.
The United States announced on Thursday that its consumer price index (CPI) increased in September, mainly due to rising rents and gasoline prices, but core inflation cooled.
David Meger, director of metal trading at High Ridge Futures, said that regardless of the conflict in the Middle East, although the U.S. inflation data on Thursday was unexpectedly hot, the market still expects that the Federal Reserve (Fed) will not raise interest rates again in November. This is another pull point. Factors driving up gold prices.
The CME Group’s FedWatch tool shows traders currently estimate there is about a 69% chance the Fed will do nothing in November.
2023-10-13 23:16:50
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