Why did gold plummet50dollar?
1Firstly, on Thursday, there was a phone conversation between China and the United States regarding trade negotiations, which released optimistic and positive signals. Both sides will10Restart negotiations on a monthly basis. US trade officials have also confirmed that both sides will10The high-level negotiations will begin in the month, and the deadlock in the China US trade negotiations has eased to some extent. Market observers are optimistic that the two countries will reach an agreement within the year.
2Secondly, the data released in the United States today is relatively optimistic, with the United States8monthADPIncrease in employed population19.5Wan, recorded this year4The highest growth rate since the beginning of the month, and the third consecutive month on month growth. United States8monthISMPMI'target='_blank'>Non manufacturingPMIAscend to56.4, expected54, Previous value53.7Analysis suggests that after two consecutive months of weakness, non manufacturing growth has finally rebounded, weakening the notion of a US economic recession
3Then there is data display,COMEXMost Active GoldfuturesContract Beijing Time9month5day21:36-21:38Instant trading within three minutes17117Hand, total contract value exceeds26USD100mn The institutional crash also contributed to this sharp drop.
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