The increasing uncertainty in U.S. politics has led to a rise in gold futures. Pay attention to a potential short-term rebound in the market. Stay informed about the latest developments and their impact on the economy.
Sources:
https://finance.sina.cn/futuremarket/gjspl/2024-07-23/detail-incfarzi0534932.d.html
https://finance.sina.cn/futuremarket/gjspl/2024-07-23/detail-incfarzi0534932.d.html
https://finance.sina.cn/futuremarket/gjspl/2024-07-23/detail-incfarzi0534932.d.html
https://finance.sina.cn/futuremarket/gjspl/2024-07-23/detail-incfarzi0534932.d.html
Outline:
(00:00:00) Introduction
(00:00:37) U.S. politics uncertainty increases gold futures and pay attention to a short -term rebound
(00:02:23) U.S. politics uncertainty increases gold futures and pay attention to a short -term rebound
(00:04:15) U.S. politics uncertainty increases gold futures and pay attention to a short -term rebound
(00:06:07) U.S. politics uncertainty increases gold futures and pay attention to a short -term rebound
Simply Politics, from China
Uncertainty in U.S. Politics Boosts Gold Futures, Short-Term Rebound Expected
The increasing uncertainty in U.S. politics has led to a rise in gold futures. Pay attention to a potential short-term rebound in the market. Stay informed about the latest developments and their impact on the economy.Sources:https://finance.sina.cn/futuremarket/gjspl/2024-07-23/detail-incfarzi0534932.d.htmlhttps://finance.sina.cn/futuremarket/gjspl/2024-07-23/detail-incfarzi0534932.d.htmlhttps://finance.sina.cn/futuremarket/gjspl/2024-07-23/detail-incfarzi0534932.d.htmlhttps://finance.sina.cn/futuremarket/gjspl/2024-07-23/detail-incfarzi0534932.d.htmlOutline:(00:00:00) Introduction(00:00:37) U.S. politics uncertainty increases gold futures and pay attention to a short -term rebound(00:02:23) U.S. politics uncertainty increases gold futures and pay attention to a short -term rebound(00:04:15) U.S. politics uncertainty increases gold futures and pay attention to a short -term rebound(00:06:07) U.S. politics uncertainty increases gold futures and pay attention to a short -term rebound
- Duration:
- 8m
- Broadcast on:
- 23 Jul 2024
- Audio Format:
- mp3
Good morning, and welcome to Simply Politics from China. It's Tuesday, July 23rd. On today's show, U.S. politics uncertainty increases gold futures and we pay attention to a short-term rebound, plus more on the impact of U.S. politics on the global economy. This coverage and more, up next. I'm David, and you're listening to Simply Politics from China. We start off with the impact of political uncertainty in the United States on gold futures. On Tuesday, gold futures saw a volatile trend throughout the trading day. The opening price was $2,396.58 per ounce, with a high of $24,385 per ounce and a low of $2,394.65 per ounce. As of the time of writing, the gold price was reported at $24,222 per ounce, an increase of 0.25 percent. Here to discuss this further is our correspondent, Michael. Can you tell us more about what's causing this volatility? Certainly, David. The volatility in gold futures is largely due to the political uncertainty in the United States. This uncertainty has been amplified by President Joe Biden's decision to withdraw from the 2024 presidential election. This has led to a weakening of the U.S. dollar, which in turn has had an impact on gold prices. And how is the market reacting to this news? The market is currently in a wait and see mode. Traders are preparing to wait for the U.S. personal consumption expenditure, PCE data, which is due to be released on Friday. This data could provide further clues about the timing of interest rate cuts, which would have a significant impact on gold prices. So it seems like the market is looking for some direction. What can we expect in the short term? In the short term, we can expect to see continued volatility in gold futures. The market is likely to react to any news related to the political situation in the U.S., as well as any indications about the timing of interest rate cuts. However, it's important to note that these are just possibilities and the actual outcome will depend on a variety of factors. Thanks for that report from China, Michael. Shifting our focus to the United States, political uncertainty there is on the rise, and this is having an impact on gold futures. On Tuesday, gold futures saw a volatile trend throughout the trading day. The opening price was $2,396.58 per ounce, with a high of $2,485 per ounce and a low of $2,394.65 per ounce. As of the time of writing, the gold price was reported at $2,402 per ounce, an increase of 0.25 percent. Here to discuss this further is our correspondent, James. Can you tell us more about what's causing this volatility? Certainly, David. The volatility in gold futures is largely due to the political uncertainty in the United States. This uncertainty has been amplified by President Joe Biden's decision to withdraw from the 2024 presidential election. This has led to a weakening of the US dollar, which in turn has had an impact on gold prices. And how is the market reacting to this news? The market is currently in a wait and see mode. Traders are preparing to wait for the US personal consumption expenditure, PCEE data, which is due to be released on Friday. This data could provide further clues about the timing of interest rate cuts, which would have a significant impact on gold prices. So it seems like the market is looking for some direction. What can we expect in the short term? In the short term, we can expect to see continued volatility in gold futures. The market is likely to react to any news related to the political situation in the US, as well as any indications about the timing of interest rate cuts. However, it's important to note that these are just possibilities and the actual outcome will depend on a variety of factors. Thanks for that report from China, James. Shifting our focus to the United States, political uncertainty there is on the rise, and this is having an impact on gold futures. On Tuesday, gold futures saw a volatile trend throughout the trading day. The opening price was $2,396.58 per ounce, with a high of $2,403.85 per ounce and a low of $2,394.65 per ounce. As of the time of writing, the gold price was reported at $2,402 per ounce, an increase of 0.25 percent. Here to discuss this further is our correspondent Bella. Can you tell us more about what's causing this volatility, certainly David? The volatility in gold futures is largely due to the political uncertainty in the United States. This uncertainty has been amplified by President Joe Biden's decision to withdraw from the 2024 presidential election. This has led to a weakening of the US dollar, which in turn has had an impact on gold prices. And how is the market reacting to this news? The market is currently in a wait and see mode. futures are preparing to wait for the US personal consumption expenditure PCE data, which is due to be released on Friday. This data could provide further clues about the timing of interest rate cuts, which would have a significant impact on gold prices. So it seems like the market is looking for some direction. What can we expect in the short term? In the short term, we can expect to see continued volatility in gold futures. The market is likely to react to any news related to the political situation in the US, as well as any indications about the timing of interest rate cuts. However, it's important to note that these are just possibilities, and the actual outcome will depend on a variety of factors. Thanks for the update from China Bella. Shifting our focus to the United States, political uncertainty there is on the rise, and this is having an impact on gold futures. On Tuesday, gold futures saw a volatile trend throughout the trading day. The opening price was $2,396.58 per ounce, with a high of $2,485 per ounce and a low of $2,394.65 per ounce. As of the time of writing, the gold price was reported at $2,402 per ounce, an increase of 0.25%. Here to discuss this further is our correspondent Celeste. Can you tell us more about what's causing this volatility? Certainly, David. The volatility in gold futures is largely due to the political uncertainty in the United States. This uncertainty has been amplified by President Joe Biden's decision to withdraw from the 2024 presidential election. This has led to a weakening of the US dollar, which in turn has had an impact on gold prices. And how is the market reacting to this news? The market is currently in a wait and see mode. Traders are preparing to wait for the US personal consumption expenditure PCE data, which is due to be released on Friday. This data could provide further clues about the timing of interest rate cuts, which would have a significant impact on gold prices. So it seems like the market is looking for some direction. What can we expect in the short term? In the short term, we can expect to see continued volatility in gold futures. The market is likely to react to any news related to the political situation in the US, as well as any indications about the timing of interest rate cuts. However, it's important to note that these are just possibilities, and the actual outcome will depend on a variety of factors. Thanks for the update Celeste. And with that, we wrap up our stories for today. Thanks for listening to Simply Politics from China. We'll see you back here tomorrow. [MUSIC] [BLANK_AUDIO]