News · VnExpress

World Gold Prices Surge, Break Out of One-Year Low

Spot gold closed the 2 November session up USD 71 at USD 3,945 per ounce, after briefly rising nearly USD 100 intraday to a high of USD 3,968 and rebounding from a one-year low hit the previous weekend. The rally came as crude oil fell up to 8% after Iran and Qatar held talks, with Brent at USD 104 per barrel, easing inflation concerns. According to the FedWatch tool, investors now see a 77% chance of a Fed rate hike in December, down from 80% a week earlier, while gold's RSI rose from 30 to 37. Attention is also on the US midterm elections on November 3, and an analyst at Julius Baer said continuing US deficits would support gold over the long term.

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Original headline: Giá vàng thế giới tăng mạnh, thoát đáy một năm

Read the original on VnExpress ↗

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