We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

  • TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
  • TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
  • TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood
We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details
Market News International gold price is expected to hit the biggest weekly level in six months, the Fed may lose its window period

International gold price is expected to hit the biggest weekly level in six months, the Fed may lose its window period

On November 12, the international price of gold fell, due to the weakening of the US dollar index, which limited the intraday decline in gold prices. The price of gold may still hit its biggest weekly increase since the week of May 7, as concerns surrounding the soaring consumer prices in the United States have enhanced the anti-inflationary charm of gold. The Fed's "wait and see" interest rate hike strategy has certain risks. At this stage, inflation expectations have risen to historical highs. If inflation continues to run at a high level and causes inflation expectations to rise, a vicious circle of inflation will be formed and the Fed will lose the best window of intervention.

2021-11-12
11022
On Friday (November 12), the international gold price fell, due to the weakening of the US dollar index, which limited the intraday decline in gold prices. The price of gold may still hit its biggest weekly increase since the week of May 7, as concerns surrounding the soaring consumer prices in the United States have enhanced the anti-inflationary charm of gold.

At GMT+8 16:18, spot gold fell 0.40% to US$1854.76 per ounce; the main COMEX gold contract fell 0.39% to US$1856.6 per ounce; the US dollar index was flat at 95.171.


The price of gold has risen nearly 2.2% this week, but the US dollar index rose to 95.256, the highest point since late July 2020, which increased the cost of buying gold for buyers holding other currencies.

Earlier, the United States announced that consumer prices recorded the largest increase in more than 30 years last month. The sharp rise in inflation has also prompted investors to increase their bets that the Fed will raise interest rates sooner than expected, but rising interest rates will increase the opportunity cost of holding gold, which is a non-interest-bearing asset.

Stephen Innes, managing partner of SPI Asset Management, said: "Until the supply chain resumes, upward pressure on prices will continue, which should support the price of gold." Innes also said that the price of gold can rise for a period of time due to continued supply chain problems. May lead to longer-lasting inflation, and interest rate hikes may not keep up with this pace. He added that the interest rate hike cycle should eventually push the price of gold down.

Michael Langford, director of the corporate advisory firm AirGuide, said that as the positive sentiment surrounding the Fed's gradual reduction in debt purchases and more stimulus inflows has faded, gold tends to fall below $1,850 in the short term.

The team of Gao Ruidong, managing director and chief macro economist of Everbright Securities, released a research report and analyzed that the Fed's "wait and see" interest rate hike strategy has certain risks. At this stage, inflation expectations have risen to historical highs. If inflation continues to run at a high level and causes inflation expectations to rise, a vicious circle of inflation will be formed and the Fed will lose the best window of intervention.

Although US President Biden emphasized that price increases are only temporary, the opposition has found new reasons for political attacks. Several Republicans on the Energy and Commerce Committee of the House of Representatives tweeted that the investment of trillions of dollars in infrastructure projects will only worsen the current crisis facing the United States.

The U.S. Congress finally passed the infrastructure law last week, and Biden won, but his plan to "rebuild a better world" could not even win unanimous support from the Democratic Party. The plan intends to invest 1.85 trillion US dollars in the next 10 years to strengthen the US social safety net.

Moderate Democrat Joe Manchin tweeted after the announcement of the CPI: "Everyone agrees that the threat to the American people from record inflation is not temporary, but worsening."
Previous
Next

Bonus rebate to help investors grow in the trading world!

Need Assistance?

7×24 H

Download the APP for Free