Reported about 1 year ago
Recent fluctuations in international gold prices have seen prices dipping below $2,300, even causing a drop of 15 Chinese yuan per gram in mainland China's gold jewelry prices. Despite this, Taiwan Bank points out that with high uncertainties in the Middle East situation and mild signs of slowing US inflation, there is still a chance for gold prices to challenge $2,400. Analyzing recent geopolitical risks, weak US manufacturing PMI, and employment data, Taiwan Bank observes a correction trend but believes that if gold prices remain above $2,300, a retest of $2,400 is possible due to oversold short-term indicators and the ongoing Middle East uncertainties.
Source: YAHOO