The decrease of 5.5 dollars an ounce of gold/one roof and two airs of global gold continues
According to Mehr Reporter, the world price of an ounce of gold on the morning of Friday, November 4, 1403 and at the time of setting this report, while starting Trading has reached $2,728 and 20 cents with a decrease of 5 dollars and 60 cents, while yesterday’s trading of this precious metal was closed at the price of 2,733 dollars and 80 cents.
The price of this shelter of difficult and uncertain economic days fell below $2,730 per ounce on Friday, after increasing by $12.5 the previous day, which strengthened the index. The US dollar and Treasury bond yields were more attractive than this metallic safe haven.
This shift, following US economic data, led some investors to conclude that the Federal Reserve’s rate cut cycle will be shorter than expected. The latest data showed that U.S. jobless claims fell sharply in late October, indicating a resilient labor market.
However, supporters of gold’s upside will continue to be geopolitical tensions in West Asia and concerns about a wider conflict, as well as uncertainty about the US election.
