جمعه, ۳۰ مهر , ۱۴۰۰ 16 ربيع أول 1443 Friday, 22 October , 2021 ساعت ×
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    World gold ounce price spiral

    شناسه : 54876 29 شهریور 1400 - 11:30
    World gold at the end of the week (Saturday) could not resist the result of falling prices. In this regard, we saw a decline in the value of ounces of global gold in the weekend market. This process started from the last days of the week. At the end of the week, this process accelerated. Global gold faced a new wave of sales in the weekend. Finally, near the level of $ 1,750, the trading route ended the weekend. This caused the price of an ounce of gold in Iran to decrease. This has had a domino effect on the dollar and foreign exchange markets.
    World gold ounce price spiral
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    The price of an ounce of world gold has seen a series of fluctuations in recent weeks. In the current market, the cryptocurrency factor should be considered in the exchange of exchange rates and gold. Bitcoin seems to be on the rise again. Continuation of this trend can overshadow gold transactions in Iran and the world. In the following, we will refer to the factors that led to inflammation and price fluctuations in this market. Please be with Artan Press.

    *** Global gold ounce drop over the weekend

    cc The exchange rate trend is expected to decline due to gold market developments. It remains to be seen how the government will use this price reduction. If the government increases the supply of currency, we will see a faster decline in the dollar.

    *** The main reasons for the fall in global gold prices in financial markets

    But why is the global ounce of gold facing this price fluctuation? Gold market participants’ uncertainty about the future of the US economy caused the yellow metal to fall by $ 40. After the US inflation report, gold could not grow much. An ounce of gold fell over the weekend. The United States seems to be seeking to strengthen its monetary value by relying on good news of economic growth and unemployment. The scenario of strengthening the global ounce will no longer create the previously expected economic productivity for this country.

    Reducing the global ounce price of gold can effectively affect Iran’s domestic markets. In this regard, the Emami coin had a decreasing trend on Saturday. Domestic precious metal lost 80,000 tomans of its value on the first day of the week. This metal was placed on the surface of 11 million and 800 thousand tomans. According to activists, one of the most important factors pushing coin prices was the fall in the price of an ounce of gold in world markets.

    *** The role of Fed decisions in gold rate fluctuations

    The devaluation of the global ounce of gold can also be seen in the Federal Reserve’s decisions. The increase in interest rates and the adjustment of US support packages, which will be determined at next week’s federal meeting, may have caused fear among investors in this market. In the current situation, the United States is strongly focused on economic development and raising the value of its national currency. Therefore, in the current situation, the backing of gold can not guarantee the strength of the dollar. More comprehensive reports should be noted. Unemployment reports and optimistic statistics, for example, are more effective in this regard. The main reason for the drop in the price of gold is the statistics related to the retail price index. The retail price index rose 0.7 percent last month. Growth in the previous month was 1.8 percent and the index was expected to grow 0.8 percent this month.

    *** The role of digital currencies in the decline of the global ounce gold rate

    Along with all the items affecting the gold and dollar exchange rates, the digital currency market cannot be ignored. This market may be the second cause of the decline in the global ounce gold price. Digital currencies, while mostly red on Friday, were able to offset some of the losses of the past two weeks with their dramatic mid-week gains. Following this ascent, Bitcoin was able to return to the $ 48,000 channel. The price of Bitcoin was at $ 48,663 yesterday, and its changes compared to the last 24 hours and 7 days were positive. The bitcoin market capitalization reached $ 916 billion, with the highest and lowest prices in the last 24 hours differing by about 4.1%.

    *** Gold rate developments in the Iranian market

    Next week, if the ounce does not fluctuate much and the dollar continues to decline, we will see a further decline in gold and coin prices due to the lack of demand. The recession in the gold market has intensified in Muharram and Safar, but if the foreign exchange market calms down, we will see the stability of gold and coin prices and the return of investors to this market. Gold buyers these days are more frustrated than any other asset class. Almost all other assets have experienced good growth over the past year, but the only thing buyers of gold have received is disappointment. A drop in the global ounce gold rate could easily overshadow the gold and foreign exchange market in Iran.

    *** Technical evaluation of global gold ounce fluctuations

    But from a technical point of view, what are the fluctuations of the global gold ounce? Technically, the $ 1,750 ounce level at the bottom of July seems to provide new support, and a head-to-shoulder pattern is emerging. If the dollar and ounce prices remain in the current range by the end of September, gold and coins will not fluctuate much. It seems that after the end of month zero, we will see a slight increase in demand and the market coming out of recession. Given the positive political news and optimism about the future of Borjam, the possibility of the dollar falling and consequently a slight decrease in the price of gold and coins in the coming months is high.

    *** Increase bond yields and strengthen the dollar

    November is usually accompanied by an increase in demand for gold. There is little reason for buyers to enter the market before that time. Rising bond yields and the appreciation of the US dollar have exacerbated investors’ disinterest in the gold market. This added to the skepticism among Wall Street analysts and investors in the weekly Kitconews poll. The release of positive data from the retail index strengthened the Federal Reserve’s position to start tipping on time. As a result, the price of gold fell by about 2.5 percent.

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