Weekly

Last week, the price of gold broke through the 2700 mark, and closed near the high level of the whole week. Under the enthusiastic pursuit of funds, the atmosphere was high. Although the upward trend was quite urgent, the downward pressure of funds made the price of gold less stressful. At the beginning of the week, the geopolitical situation in the Middle East continued to be tense. The Israeli killed Hamas leader Yahya Sinval, and the market risk aversion was high. In addition, the US presidential election was approaching, which highlighted the role of gold as a shelter for funds, and the price of gold rose steadily.

With the end of the year approaching, European and American central banks will continue to cut interest rates, reduce the cost of gold holders and attract more funds to pursue gold. This week, there is still a lack of important economic data, and the situation in the Middle East will continue to influence the gold market. Although the US dollar continues to rebound, it has little pressure on gold, which shows that the bottom of the gold market is still strong. Another noteworthy thing is the silver market, which is also highly sought after by the market this year. The market situation is a bit different, so let's refer to each other.