GOLD prices on the world market suddenly plummeted
The world gold spot price on the Asian market is around 1,977 USD/ounce, down more than 12 USD/ounce compared to trading at the same time yesterday morning. The price of gold delivered according to the contract also decreased sharply by over 12 USD to 1,984 USD/ounce.
The market welcomes more positive economic information. Specifically, the Japanese economy showed that the October PMI index increased well above the expansion level, reaching 51.6 points, higher than forecast and September's 51.1 points.
Along with that, in Europe, the region's largest economy, Germany, said that factory orders in September increased again, after a decline in August. The increase in September was 0.2%. , much higher than the forecast of minus 1%. Germany's October composite PMI index increased slightly by 45.9 points, higher than the forecast 45.8 points. Germany's October services PMI also increased to 48.2 points, higher than the forecast 48 points.
Investor confidence in the Eurozone market increased from minus 21.9 in October to minus 18.6 this November, higher than the forecast of minus 22.2.
From the above economic information, experts believe that major economies in Europe and Asia continue to show positive signs of recovery as new orders increase. The increase in investor confidence will also help them return to investing in the European economy, helping this region escape the economic downturn as previously forecast.
Experts say that the economy is recovering and the European Central Bank recently signaled that it will increase interest rates one more time to lower the inflation rate to the target level of 2%. The Fed decided to keep interest rates stable last week. This has caused investors to reduce gold speculation and instead buy profitable assets such as stocks and bonds.
The market welcomes more positive economic information. Specifically, the Japanese economy showed that the October PMI index increased well above the expansion level, reaching 51.6 points, higher than forecast and September's 51.1 points.
Along with that, in Europe, the region's largest economy, Germany, said that factory orders in September increased again, after a decline in August. The increase in September was 0.2%. , much higher than the forecast of minus 1%. Germany's October composite PMI index increased slightly by 45.9 points, higher than the forecast 45.8 points. Germany's October services PMI also increased to 48.2 points, higher than the forecast 48 points.
Investor confidence in the Eurozone market increased from minus 21.9 in October to minus 18.6 this November, higher than the forecast of minus 22.2.
From the above economic information, experts believe that major economies in Europe and Asia continue to show positive signs of recovery as new orders increase. The increase in investor confidence will also help them return to investing in the European economy, helping this region escape the economic downturn as previously forecast.
Experts say that the economy is recovering and the European Central Bank recently signaled that it will increase interest rates one more time to lower the inflation rate to the target level of 2%. The Fed decided to keep interest rates stable last week. This has caused investors to reduce gold speculation and instead buy profitable assets such as stocks and bonds.
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