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The reason for the gold price drop of over 25 dollars is here! Powell's speech is impactful. How to trade gold?
On Wednesday, due to the expected rise in usa's October CPI, the dollar strengthened and usa's bond yields increased, causing gold prices to be sold off, marking the fourth consecutive day of declines. FXStreet analyst Christian Borjon Valencia indicated that upcoming economic events, including Federal Reserve Chair Powell's speech and usa's retail sales, will further influence the trend of gold.
Express News | The world's largest gold etf, SPDR Gold Trust, reduced its holdings by 2.01 tons compared to the previous day, with current holdings of 868.52 tons.
Gold Futures Extend Slide as Rally in Dollar, Treasuries Stays Strong
GLD ETF Falls 1.0%
SPDR Gold ETF Options Spot-On: On November 13th, 337.39K Contracts Were Traded, With 3.06 Million Open Interest
On November 13th ET, $SPDR Gold ETF(GLD.US)$ had active options trading, with a total trading volume of 337.39K options for the day, of which put options accounted for 38.26% of the total
Half of Global Fund Managers Are Long the Mag 7 – BofA