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Major event in the international Gold market! Hong Kong's "Golden Opportunities": Hong Kong establishes an Exchange and plans to build a vault and digital gold.
Starting from January 1, 2025, a new trading institution named "Hong Kong Gold Exchange" will be established in the Hong Kong Special Administrative Region of China. This institution will be rebranded and corporatized from the gold and silver trading hall that has been operating locally for 114 years. The Chairman of the Exchange, Zhang Dexi, stated that the establishment of the Exchange aligns with the proposals in the "Policy Address" to enhance Hong Kong as an international gold trading center, believing that the future responsibilities of the Exchange will be significant.
The Federal Reserve's "hawkish" stance limits the increase! Gold price at 2616, holiday trading is sluggish. FXEmpire's latest technical analysis on Gold, Dollar, and Euro.
The Federal Reserve's tough interest rate stance limits the rise in Gold, and with the West entering the holiday week, the Gold price is fluctuating around 2616 USD, while the USD maintains a strong market.
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Uncertain interest rate path for 2025 leads to economic concerns. Gold rises before the holidays.
As traders weigh the prospects of the USA Federal Reserve easing interest rate cuts next year, Gold rises.
Be careful, Gold may suddenly "change its face"! Technical analysis is issuing warning signals. FXStreet Senior Analyst's analysis of Gold price trends.
On Tuesday morning in the European market, spot Gold maintained an intraday rebound trend, with the current gold price around 2621 dollars per ounce. FXStreet Senior Analyst Dhwani Mehta stated that due to the bearish Relative Strength Index (RSI) on the daily chart and Gold being positioned between two key moving averages, the gold price is still in a "Sell on the rebound" trade.