Overnight Market Review (2022.10.12) The US economy continues to lose momentum and the threat of recession continues to increase. However, the Federal Reserve will continue to tighten monetary policy, which could keep gold prices low for longer, according to a precious metals company.
Although gold has rebounded from a near two-year low, it is still stuck at around $1,700 an ounce. Gold futures for December delivery were last at $1,686.10 an ounce, up 0.66% on the day.
Commodity analysts for the precious metals warned investors in their latest precious metals report that the gold market could remain sluggish into year-end as rising interest rates support the dollar.
Trading strategy deployment: it is recommended to go short at high levels
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