Overnight Market Review (2022.10.20) During the Asian session, spot gold continued to decline, hitting a new low of $1,624.03 per ounce in more than three weeks at one point. The yield on the 10-year U.S. Treasury bond rose above 4.10% after 14 years, driving the dollar up 0.7% on Wednesday. %, significantly suppressing the price of gold
In addition, the CPI in the United Kingdom, the euro area, Canada and other countries remains high, which strengthens the expectation that the central banks of these countries will raise interest rates sharply in the future. Investors are worried about the increased opportunity cost of holding gold and sell gold one after another. After the price of gold fell below the 1640 mark, the technical bearish signal further increased, and the following attention was paid to the support near the 1620 and 1600 mark.
Trading strategy deployment: it is recommended to do more at low levels
All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.