Lates News

Recently, international gold prices have experienced significant fluctuations. On October 23, during the Asian trading session, spot gold briefly fell below $4,000 per ounce for the first time since July, and international gold prices have cumulatively dropped more than 3% this week. Wang Jun, chief expert at Gelin Dahua Futures, analyzed that three major factors have led to the recent decline in international gold prices: First, high oil prices, with Brent crude oil prices breaking through $114 per barrel, reinforcing the stickiness of global and U.S. inflation. Second, expectations for a Federal Reserve rate hike in December have further intensified. Persistently high U.S. inflation has pushed up the U.S. dollar and U.S. Treasury yields in global markets, further reducing the appeal of gold, which is the main reason for this round of gold's decline. Third, global liquidity is tightening and deleveraging is underway. International gold prices are expected to remain under pressure in late October and early November. (CCTV Finance)