Gold sees a sudden surge in the market! Short-term price spikes approach historical highs. FXStreet's chief analyst provides technical analysis of the gold price.
During Tuesday's Asian session, spot gold suddenly surged sharply, with the price just reaching $2757.74 per ounce, hitting a new daily high and also approaching the previous historical high. FXStreet's chief analyst Valeria Bednarik pointed out that the gold price is currently maintaining a bullish bias.
RBC Capital Maintains Gold Fields(GFI.US) With Buy Rating, Maintains Target Price $18
Iran tough talks! After a significant gap down opening, gold prices rebounded strongly above $2740. How to trade gold.
On Monday, spot gold opened significantly lower with a gap down, during the early Asian session, the price of gold once approached $2725 per ounce; however, gold regained most of the lost ground during the day, closing above $2740 per ounce. FXStreet analyst Christian Borjon Valencia stated that political and geopolitical tensions are still ongoing. This is limiting the decline in gold prices.
African stock market | South Africa's stock index rose by 0.6%, while Harmony Gold Mining and Gold Fields dropped by over 1%.
On October 28, Gronghui｜The South African FTSE/JSE Africa Top 40 Index rose by 0.60% to 79400.61 points. Component stock South African Woolworths Holdings led the gains with a 3.58% increase, as Impala Platinum Holdings (IMP) rose by 3.19%. Harmony Gold Mining (HAR) was the worst performer with a 1.03% decline, while Gold Fields (GFI) dropped by 1.64%, marking the second largest decrease.
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