Gold price forecast

٣٠ أكتوبر

World gold prices increase when the USD index decreases. Recorded at 9:00 a.m. on October 30, the US Dollar Index measuring the fluctuation of the greenback with 6 major currencies was at 104,114 points (down 0.02%).

According to Kitco, world gold prices increased sharply, breaking the threshold of 2,780 USD/ounce when receiving many supporting factors. In one week, Americans will officially go to the polls to elect a new Congress and president. Information surrounding the election fueled instability in financial markets, causing investors to turn to gold as a safe-haven asset.

Increased safe-haven demand for gold has helped push gold prices toward all-time highs.

Today, several economic data could affect gold prices, including ADP employment data, third quarter GDP and US pending home sales. Monetary policy decisions of the Bank of Japan.

Economic data to watch this week include core PCE, personal income and spending and US weekly jobless claims on Thursday and US nonfarm payrolls and PMI measures manufacturing sector's economic performance on Friday.

🔥 XAUUSD Sell now 2778 - 2780🔥

✔️ TP1: 2760
✔️ TP2: 2750
✔️ TP3: OPEN

🚫SL: 2786