The gold market experienced sell-offs.
Experts believe that the market's adjustment phase is a "temporary" reaction to Donald Trump's re-election as US President and maintains his opinion in favor of increasing gold prices in the near future.
During the question and answer session this morning, Governor of the State Bank Nguyen Thi Hong shared that "gold is also a headache for the world". She informed that before the State Bank intervened, the international price per ounce was about 2,300-2,400 USD, but has now increased to around 2,700 USD. Compared to the beginning of the year, precious metals have increased by more than 50%.
The USD skyrocketed after this event, and the gold market experienced sell-offs. Bond yields rose as investors worried that the tariffs and tax cuts that Mr. Trump promised before his election could cause inflation to rise again.
Morrison said, USD and interest rates increased. Gold prices fell sharply and found a bottom, then increased slightly in the last session of the week, gold was under strong selling pressure. Gold prices hold support from 2,635 to 2,675 USD/ounce. This is the resistance level of gold prices in the last week of September and early October.
During the question and answer session this morning, Governor of the State Bank Nguyen Thi Hong shared that "gold is also a headache for the world". She informed that before the State Bank intervened, the international price per ounce was about 2,300-2,400 USD, but has now increased to around 2,700 USD. Compared to the beginning of the year, precious metals have increased by more than 50%.
The USD skyrocketed after this event, and the gold market experienced sell-offs. Bond yields rose as investors worried that the tariffs and tax cuts that Mr. Trump promised before his election could cause inflation to rise again.
Morrison said, USD and interest rates increased. Gold prices fell sharply and found a bottom, then increased slightly in the last session of the week, gold was under strong selling pressure. Gold prices hold support from 2,635 to 2,675 USD/ounce. This is the resistance level of gold prices in the last week of September and early October.
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