Gold Continues Bullish Trend, Eyes US$2,700 Mark
Spot gold short-term trend analysis on November 21: the bullish morale is strong, be vigilant about the initial claims data from the USA.
On Thursday (November 21), in the Asian market, spot gold fluctuated higher, reaching a peak of $2660.31 per ounce, the highest since November 11, currently trading at $2656.75 per ounce, up by about 0.25%, continuing to be supported by safe-haven demand amidst escalating tensions in the Russia-Ukraine war. On Wednesday, Ukraine launched multiple British "Storm Shadow" cruise missiles at Russia, following Tuesday's use of American ATACMS missiles against Russia, the latest Western weapons approved for use against Russian targets by Ukraine. At the same time, the United States vetoed a UN Security Council resolution on a Gaza ceasefire, causing current
Risk aversion demand has "ignited" the gold bulls, causing gold prices to rise for four consecutive days!
The price of gold at $3,000 will 'look very cheap' in 3 to 4 years.
Gold will continue to shine! Commodity experts: Gold prices will hit new highs repeatedly in the first year of "Trump 2.0"!
①csi commodity equity index expert Jeffrey Christian expects the price of gold to reach a new historical high by the end of January next year, as significant uncertainty in the "Trump 2.0" policy will lead investors to flock to gold and other defensive assets for safety. ②He believes that the recent decline in gold prices may be due to some investors taking profits.
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