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The Price Of Gold Is Difficult To Obtain Sustained Upward Momentum

The Price of Gold Is Difficult To Obtain Sustained Upward Momentum

The price of gold fluctuated downward last week (October 4th to October 8th), it continued to fall from around US$1770 at the beginning of last week. It once touched US$1745 on Wednesday. Last Friday, under the influence of the non-agricultural report, the price of gold rose and fell, and finally closed. At 1756.99, it hit a new low in more than a week. Some analysts pointed out that the U.S. Treasury yields continued to rise last week and the U.S. dollar remained high, which suppressed the trend of gold, and the price of gold fell by 0.22% last week. Last week, the gold market sentiment continued to improve. Although the gold price trend was neutral after the release of a disappointing job market data, it once rose to a two-week high, but it still could not get any sustained momentum, and the gold price finally failed to exceed $1780. Resistance level above. Spot gold closed at US$1757.13 per ounce, down US$3.85 or 0.22%, reaching a maximum of US$1781.41 per ounce.
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