Overnight market review On Thursday, Friday and Monday (January 9) in Asia, spot gold rose slightly, hitting a new high since May 10, 2022, to 1878.87 US dollars per ounce. Growth was lower than expected, and the U.S. services sector shrank for the first time in more than two and a half years. U.S. factory orders also fell in November after rising in October. The market raised expectations that the Federal Reserve will raise interest rates by only 25 basis points in January. The dollar weakened sharply, approaching a more than half-year low, and U.S. bond yields also fell to a more than two-week low, providing upward momentum for gold prices.
Trading strategy suggestion: do more at low positions
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