Gold trading reminder: Concerns about the situation in Russia and Ukraine have enveloped the market, and gold prices have been positive for three consecutive times! Or the sword is pointing at the middle track of Bollinger Bands
At the beginning of the Asian market on Thursday, November 21, spot gold fluctuated within a narrow range and was currently trading around $2,649.57 per ounce. Gold prices climbed for the third consecutive trading day on Wednesday, hitting a new high of more than a week at US$2,655.27 per ounce and closing at US$2,650.07 per ounce. The escalating tensions between Russia and Ukraine intensified geopolitical concerns and investors sought safe havens.
Earlier on Wednesday, gold prices were suppressed by the 55-day moving average. In addition, the market's expectations for a December interest rate cut by the Federal Reserve cooled, and the U.S. dollar index resumed its gains, which once caused the gold price to fall back to $2,618.78 per ounce. This was because investors wanted to know more about the Federal Reserve's policy. Interest rate plans and policies proposed by U.S. President-elect Trump.
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