Foreign media: On October 20, due to market expectations of further U.S. interest rate cuts and sustained safe-haven demand, gold prices rose by more than 1%. Spot gold increased by 1.6% to $4,318.50 per ounce; U.S. December gold futures rose by 2.8% to $4,333.10 per ounce.
Previously, gold reached a historical high of $4,378.69 on the 17th, but fell 1.8% at closing that day due to Trump's comments easing trade tensions.
CPM Group expects that gold prices may break through $4,500 per ounce in the coming weeks or months. The U.S. government shutdown entered its 20th day, causing delays in key economic data releases, and the market is in a data vacuum period. Investors are focusing on the upcoming U.S.-China trade negotiations and U.S. inflation data.
Original: www.toutiao.com/article/1846512995404800/
Statement: This article represents the views of the author himself.