#goldprices plunged
Before the National Day, international gold prices continued to fall. The price of COMEX gold futures on the New York Mercantile Exchange suffered nine consecutive declines. It was not until October 6 that it barely stopped the decline, with a drop of more than 5%. The price of London spot gold (XAU) also fell sharply. It fell more than 4.8% in 10 transactions.
Domestic gold futures temporarily escaped the disaster due to the suspension of trading during the holidays. As of September 28, the closing price stayed at 459.5 yuan/gram. However, according to trading rules, the price of Shanghai Gold Futures on the Shanghai Gold Exchange has been "compensating for the fall".
Domestic gold spot prices are not so lucky. Gold spot prices were not supported by rising demand during the Mid-Autumn Festival and National Day. Instead, the international gold price plummeted by about 30 yuan per gram. In just a few days, people suffered losses.
Generally speaking, the main factors that affect the price of gold are the U.S. dollar index, real interest rates on U.S. debt, inflation levels, gold supply and gold demand. Historically, the actual yield on U.S. bonds has the closest relationship with gold, with the two showing a high degree of negative correlation.
Recently, the U.S. dollar and U.S. bond yields have continued to rise, putting pressure on gold, and gold prices have come under significant pressure.
Last week's Job Openings and Labor Turnover Survey released by the U.S. Bureau of Labor Statistics showed that the number of open positions in the United States increased to 9.61 million in August from a revised 8.92 million in July, far exceeding expectations. That suggests the labor market remains tight, which could force the Federal Reserve to raise interest rates next month.
The decline in gold prices is a complex economic phenomenon that may involve a variety of factors. It may imply uncertainty and risks in the economic environment, or it may reflect inflation, currency devaluation, debt problems or other economic problems.
$Real gold is like this, what will happen to digital gold #BTC ...
#美联储是否加息？
Before the National Day, international gold prices continued to fall. The price of COMEX gold futures on the New York Mercantile Exchange suffered nine consecutive declines. It was not until October 6 that it barely stopped the decline, with a drop of more than 5%. The price of London spot gold (XAU) also fell sharply. It fell more than 4.8% in 10 transactions.
Domestic gold futures temporarily escaped the disaster due to the suspension of trading during the holidays. As of September 28, the closing price stayed at 459.5 yuan/gram. However, according to trading rules, the price of Shanghai Gold Futures on the Shanghai Gold Exchange has been "compensating for the fall".
Domestic gold spot prices are not so lucky. Gold spot prices were not supported by rising demand during the Mid-Autumn Festival and National Day. Instead, the international gold price plummeted by about 30 yuan per gram. In just a few days, people suffered losses.
Generally speaking, the main factors that affect the price of gold are the U.S. dollar index, real interest rates on U.S. debt, inflation levels, gold supply and gold demand. Historically, the actual yield on U.S. bonds has the closest relationship with gold, with the two showing a high degree of negative correlation.
Recently, the U.S. dollar and U.S. bond yields have continued to rise, putting pressure on gold, and gold prices have come under significant pressure.
Last week's Job Openings and Labor Turnover Survey released by the U.S. Bureau of Labor Statistics showed that the number of open positions in the United States increased to 9.61 million in August from a revised 8.92 million in July, far exceeding expectations. That suggests the labor market remains tight, which could force the Federal Reserve to raise interest rates next month.
The decline in gold prices is a complex economic phenomenon that may involve a variety of factors. It may imply uncertainty and risks in the economic environment, or it may reflect inflation, currency devaluation, debt problems or other economic problems.
$Real gold is like this, what will happen to digital gold #BTC ...
#美联储是否加息？