The price of gold today (October 29) is moving in an upward direction. But starting to slow |

The price of gold today (October 29) is moving in an upward direction. Although there were signs that there was another slowdown in the upward adjustment, But it is likely to maintain the upward trend. According to the decline of the dollar and US bond yields This is because US bond yields are under pressure from technical buying in US Treasury bills and bonds. After last night (October 28) the price of that instrument went down. After the auction of US Treasury bills and bonds. find that demand for purchases has decreased; however, such buying could still be at a limited level This is because investors are wary of the possibility that Donald Trump could win the election. The President of the United States from the direction of Trump’s policy It seems that he will support inflation to remain at a high level. and the risk of an increase in US fiscal issues This is combined with the possibility that the Federal Reserve (Fed) could cut interest rates below 0.50% for the rest of this year. Following the positive direction of the US economy and the support of several Fed officials Continue the guidance to reduce interest rates gradually. So the value of the dollar and US bonds yield There is still support for stability in the upward direction. Underscoring the further rise in gold prices to slow.

Council

• Find a time to shop. Support is estimated at 2,747-2,742 dollars per ounce.

• Gradually sell to make a profit. When the price rose to the resistance zone of 2,758 -2,766 dollars per ounce.

• Buy and cut losing positions. If the price breaks the support level of 2,726 dollars per ounce.

This article was produced by YLG Bullion International.

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