Gold prices are not favoured in the short term
During the Asian session on October 29, spot gold rebounded moderately and adjusted the overnight decline; overnight gold ushered in a sharp decline, with a drop of 1.61%, because there is no sign that the United States is about to introduce any fiscal stimulus measures to ease the impact of the new crown epidemic on the economy Investors bought the U.S. dollar one after another, and the U.S. dollar index recorded the largest increase in 11 trading days, dragging down the price of gold. In addition, in the US general election, the U.S. dollar is optimistic due to the rise in Trump’s approval rating, and gold is temporarily on the defensive.
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