The reason for the significant $27 increase in gold price on Friday! How to trade gold next week? Analyst's technical analysis of gold price.
#Gold Technical Analysis# 24K99 News On Friday (October 11), due to the prospect of a rate cut next month in the usa driven by the PPI data, as well as the boost in gold prices from the safe-haven demand brought about by the tense geopolitical situation in the Middle East, spot gold prices rose sharply by 1% at close.
GLD ETF Gains 1.1%
SPDR Gold ETF Options Spot-On: On October 11th, 207.4K Contracts Were Traded, With 2.91 Million Open Interest
On October 11th ET, $SPDR Gold ETF(GLD.US)$ had active options trading, with a total trading volume of 207.4K options for the day, of which put options accounted for 35.21% of the total transactions,
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The analyst pointed out that although the price of gold has shown strong momentum over the past year, precious metals have just entered a new bull market cycle, and $3000 per ounce gold is not out of reach.
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Gold price breaks through key resistance, technical outlook has changed! Well-known institutions: Gold price may still have nearly $25 upside potential.
At the end of the Asian market on Friday, spot gold maintained a strong upward trend intraday, with the current price near $2644 per ounce, rising nearly $15 intraday. According to Economies.com, after breaking through the important resistance at $2635.06 per ounce, the outlook has turned bullish, with the first target set at $2668.00 per ounce.
Israel is expected to take action soon, gold has just surged! Gold price surged more than $15 within the day. What will be the next move for the gold price?
During Friday's Asian market session, spot gold suddenly surged significantly in the short term, with the price just breaking through $2645 per ounce, rising more than $15 intraday. FXStreet senior analyst Dhwani Mehta pointed out that widespread risk aversion and a moderate decline in the dollar supported the gold price ahead of the release of US PPI data later on Friday.
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Key employment data in the usa 'busted'! Israel suddenly transmits heavyweight news, gold price surges by $22. How to trade gold?
On Thursday (October 10), despite the US CPI data slightly higher than expected, the US initial jobless claims data performed poorly, causing the US dollar index to significantly decline from high levels, while gold surged significantly after intense fluctuations, with gold prices rising by 22 US dollars within the day.
SPDR Gold ETF Options Spot-On: On October 10th, 133.11K Contracts Were Traded, With 2.91 Million Open Interest
On October 10th ET, $SPDR Gold ETF(GLD.US)$ had active options trading, with a total trading volume of 133.11K options for the day, of which put options accounted for 39.83% of the total transactions,
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