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Market Analysis: Five Reasons Why Gold Reaches New Highs
On September 8, Jin10 reported that gold prices reached a new high, standing at $3640/ounce, with an intraday rise of nearly 1.5%. Analyst Adam Button from the U.S. financial website investinglive stated that after breaking out of the consolidation range from April to September, gold prices are showing a parabolic rise. There are no real secrets behind this, mainly for the following five reasons: 1. Trump is trying to gain control over the Fed and lower interest rates to levels that wouldn't normally be reached. 2. The global trade order is collapsing. 3. The global order surrounding military intervention is disintegrating (refer to U.S. Vice President Vance's comments over the weekend about the killing of Venezuelan citizens). 4. Fiscal spending is out of control. 5. Technical indicators are consistently supportive.