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Market News Gold price fell slightly by 0.1% and spot silver fell by 0.4% ; Analysis expected the impact of US elections is little

Gold price fell slightly by 0.1% and spot silver fell by 0.4% ; Analysis expected the impact of US elections is little

The dollar rebounded and the price of gold fell. Spot gold fell 0.1% to $1,919.16 per ounce.

Eden
2020-10-13
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US gold futures prices rose 2.15 US dollars, or about 0.11%, to 1928.35 US dollars per ounce.


Comex December gold futures, the transaction price fell by 0.68% before the deadline, trading at USD1915.75 per troy ounce.


SPDR Gold Trust, the world's largest gold exchange fund (ETF), increased its gold holdings by 0.48% to 1,277.65 tons on Monday.


Spot silver fell 0.4% to US$25.02 per ounce, platinum was flat at US$873.46, and palladium rose 0.1% to US$2,403.07 per ounce.


Comex silver's December transaction price fell 1.75% to USD24.830 per troy ounce; December copper's transaction price fell 0.47% to USD3.0482 per pound.


If the vaccine becomes popular, gold will drop till $1700

Some analysts pointed out that during the period from March to August this year, driven by European and American buying, international gold prices rose by more than 40%. After high-end corrections, the market is currently in the stage of consolidation. The factors affecting gold prices are still mainly related to the epidemic. The impact of the US presidential election is relatively limited.


If the epidemic develops unexpectedly, there is an opportunity to push the price of gold to US$2,200. However, it should be noted that if the vaccine is successfully developed and mass-produced, the price of gold may face a new wave of corrections, but even if it is pulled back, it is expected to be 1700 The US dollar forms a support point and will not return to the 2012 hold-up range.


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