On Wednesday (March 28th), the price of gold in the early Asian market was slightly up and then hit by a profit, and the price of gold plunged. In the US market, the US GDP data were pretty good, boosted the dollar sharply, and the gold price fell more than $20, with a minimum of $1323.40 / oz.
Today, spot gold open at 1324.60 US dollars / ounces, the initial gold price of the Asian market continues to continue a narrow shock. At present, the price of gold is up to $1327 / oz. As of the report, spot gold was temporarily reported to $1326.99 / ounce, or 0.05%.
Spot gold hour chart
Spot gold hour chart
The U. S. GDP has shown a beautiful dollar to boost the price of gold
In the evening of Wednesday (March 28th), GDP data in the United States arrived on schedule. The data showed that the actual GDP annual rate in the fourth quarter of the United States was 2.9%, higher than the previous value of 2.5% and the expected 2.7%.
At the same time, the final quarter of the four quarter's actual personal consumption expenditure was recorded at 4%, which is also better than the previous value and the expected value of 3.8%. The fourth quarter core PCE price index reaches 1.9% of the annual season rate, which is in line with the expectation.
The U. S. Department of Commerce said the fourth quarter GDP was stronger than expected to show that the trend of US economic strength has not changed. The report said, "the overall economic landscape in the United States has not changed, and personal spending PCE and private stock investment will recover."
In addition, the United States February housing contract sales index monthly rate of 3.1%, higher than the previous value and expectations, the dollar was boosted hit 90.15, gold encountered a violent selling.
The hour chart of the dollar index
The hour chart of the dollar index
Trump plans to make the "Amazon" stock market unrest
According to Axios reports, Trump wants to "work on the Amazon." Saunders, the White House press secretary, said on Wednesday: "we have not yet announced, and there is no specific policy or action."
Affected by this news, the share price of Amazon fell 3 percentage points on Wednesday afternoon. The NASDAQ fell 0.8%, to 6949.23 points, Amazon, Netflix and apple respectively 4.4%, 4.9% and 1.1% back. The NASDAQ index was up 0.4% for the first time.
The S & P 500 index and the Dow Jones industrial average was down. The S & P 500 index fell 0.3% to 2605, and technology stocks fell 0.9%. The Dow Jones index closed down 9.29 points, closed at 23848.42, and traded widely.
In recent stock market turbulence, investors also flocked to traditional and safer assets such as bonds. Although the overnight gold price did not benefit, the return of risk aversion is still possible to a certain extent, which is good for gold.
"Tong Russia gate" re exposing new materials to avoid risk of warming up the gold price
According to New York Times, the special prosecutor Muller on Tuesday evening released a document file revealed that the former campaign chairman Paul Marner Ford and campaign manager Rick Gates in the general election in 2016, and a Russian military intelligence and related business groups have contact.
Trump's former campaign manager Paul Manaforte (left) and election assistant Rick Gates
Trump's former campaign manager Paul Manaforte (left) and election assistant Rick Gates
Documents show that Gates has reached a plea agreement, that is aware of the general staff of the army group Russian Federation Intelligence Agency (GRU) former employees of FBI, had admitted to do false, and Muller agreed to cooperate with the investigation.
However, gold hit a profit making strike, coupled with the beautiful economic data of the United States, and the gold medal support was limited overnight.
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