04/10/2022
Spot gold trading strategy: U.S. bond yields plummet, gold bulls are boosted morale
In the Asian session on Tuesday (October 4), spot gold rose and fell, once reaching a high of more than two weeks to around $1,702.42 per ounce. The U.S. manufacturing PMI data performed poorly overnight, and the U.S. dollar and U.S. bond yields fell to a more than one-week low. , to provide upward momentum to the price of gold. Although the short-term increase is too large, and there are also some short-term long-term profit-taking at the 1700 mark, the gold price has fallen back to around $1,696, but the technical bullish signal has been significantly strengthened, and the geopolitical situation in Russia and Ukraine is still tense. The agricultural data is not expected to be optimistic, and there is still a chance for gold prices to rise further.