Decision Analysis: Don't take risks to chase highs! Technology giants are here, usa election deadlocked, gold approaching historical highs.
FX168 Financial News Agency (Asia Pacific) News On Tuesday (October 29), the stock markets in asia saw mixed ups and downs, with investors looking forward to the start of a three-day tech giant earnings week on Wall Street. Alphabet, Google's parent company, will unveil new developments later in the day.
Gold may be reaching a new high again?! Be cautious as the gold price surges after a significant breakthrough, analyzed by reputable institutions in the gold trade.
At the end of the Asian market on Tuesday, spot gold maintained an intraday rebound trend, with the current gold price near $2754 per ounce. According to Economies.com, if the gold price breaks through $2758.40 per ounce, the outlook for gold will turn bullish, with the target set at $2782.00 per ounce.
Not gold, the US dollar, or US Treasury bonds! It is the ultimate 'safe haven' for the US presidential election.
Although the Japanese yen has been weak so far this year, history indicates that for investors seeking refuge in the usa presidential election, the yen is still expected to become an unexpected safe haven. Data compiled by Bloomberg shows that in the run-up to past U.S. elections, the yen has already outperformed the dollar, Swiss franc, gold, U.S. treasuries, and euro, among the most popular safe assets.
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.
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.
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