Market analysis: There are five reasons why gold hit new highs "
Internet reports that the price of gold hit a new high, standing at US$3640 per ounce, rising nearly 1.5% during the day. Adam Button, an analyst at U.S. financial website investinglive, said that since breaking through the consolidation range from April to September, gold prices have shown a parabolic upward trend. There is no real secret behind this, but there are five main reasons: 1. Trump is trying to control the Federal Reserve and hold down interest rates to levels that would otherwise not have been achieved. 2. The global trade order is disintegrating. 3. The global order surrounding military intervention is breaking down (refer to U.S. Vice President Vance's remarks over the weekend about killing Venezuelan citizens). 4. Fiscal expenditures are out of control. 5. Technical support is consistent.
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