The reason for the sudden surge in gold prices has been identified! How will gold prices move next? FXStreet analyst's latest analysis on gold trade.
On Friday during the Asian market, spot gold suddenly surged significantly, with the current gold price surpassing the $2660 per ounce mark, rising $23 intraday. FXStreet analyst Haresh Menghani noted that, from a technical perspective, the gold price broke through the $2649-$2650 per ounce barrier during the day, which is seen as a key trigger by bulls.
【Directly attacking the Asian market】 A piece of data triggers a surge in the yen! Gold has just broken through 2660, and the risk of the French government collapsing has increased.
FX168 Financial News (Asia-Pacific) reported on Friday (November 29) that due to Tokyo's inflation data being higher than expected, the yen strengthened, while asian stock markets showed mixed performance.
Gold's nine-month consecutive rise momentum may come to an end! Can it still be bullish before the end of the year?
Analysts point out that unless something radical happens, gold's longest monthly winning streak in 24 years may end this month.
Be alert for today's "huge" fluctuations in gold prices! FXStreet senior analyst: gold prices are likely to drop by more than 35 dollars again.
In the early European session on Thursday, spot gold remained essentially flat, with the current gold price near $2636 per ounce. FXStreet senior analyst Dhwani Mehta warned that due to thin liquidity caused by the Thanksgiving holiday, gold prices may still experience severe fluctuations.
Eastern European central banks are aggressively purchasing gold, becoming the largest buyers globally. Will gold prices rise to 3000 dollars?
Central banks in Eastern European countries are accelerating their gold purchases to diversify investments and cope with external shocks, with the Czech Republic, Poland, Serbia and other countries becoming the largest buyers of gold together.
Many gold buyers have emerged in Eastern Europe!
For Eastern European leaders, gold is seen as a safe haven and a political selling point.