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The market continues to digest the prospect of the US presidential election after Biden withdrew, and gold has fallen below $2400.
Due to traders weighing the decision of U.S. President Biden's withdrawal from re-election and what this means for the chance of Trump returning to the White House, the price of gold has slightly declined.
Gold: Positioning Risks Skewed to the Downside – TDS
A reversal of the Trump trade threatens Gold bugs, TDS senior commodity strategist Daniel Ghali notes.
Trending again! Spot gold once fell below 2400, is it another opportunity for layout?
The structural bull market remains unchanged.
NASDAQ is experiencing a major correction, where can you hide? The Dow Jones, gold, and US bonds are all falling, but bitcoin remains 'strong'.
Market style has changed due to factors such as improved prospects for Trump's campaign and increased expectations for interest rate cuts.
The situation changed? ETF has started to see net buy orders, and JPMorgan has called for a gold price of 2650!
According to Morgan Stanley, ETFs may become the new driving force behind the next round of gold price increases. Gold ETFs have started to increase their holdings since late May, and COMEX's net long position is at its highest since Q2 2022.
Direct hit on anomaly: Non-ferrous stocks fell in the morning, with cooling expectations for the Federal Reserve's interest rate cut.
On July 19th, $Nonferrous metals(BK1312.HK)$ fell in the morning session. As of press time, $Lingbao Gold(03330.HK)$ fell by 8.58%, to HKD 3.41; $Zhaojin Mining(01818.HK)$ fell by 7.49%, to HKD 14.82; $SD Gold(01787.HK)$ fell by 5.32%, to HKD 17.08; $Zijin Mining Group(02899.HK)$ fell by 4.25%, to HKD 16.24. Source: Futubull. On the news front, the President of the European Central Bank announced the content of the interest rate resolution and announced the maintenance of interest rates.
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