The international gold price looks at the US$1,887 provider FX678 in the market outlook

On Tuesday (November 16), the international gold price rebounded from the previous trading day to a five-month high of 1,870.31 dollars since June 14 and stabilized. The dollar index and U.S. Treasury yields corrected, but concerns about the expansion of inflation risk The safe-haven charm of gold remains intact. The gold price looks at $1,887 in the market outlook.

At 14:47 Beijing time, spot gold rose by 0.12% to US$1,865.14 per ounce; the main COMEX gold contract rose by 0.05% to US$1,867.5 per ounce; the US dollar index fell by 0.04% to 95.478.

Richmond Fed Chairman Barkin said on Monday (November 15) that if the Fed believes that high inflation is likely to continue, it will not hesitate to raise interest rates, but the Fed should wait to judge whether inflation and labor shortages will last longer.

Bank of England Governor Bailey said on Monday that he was very disturbed by the inflation outlook and that the decision to keep interest rates unchanged earlier this month was a very difficult decision. The Bank of England’s decision at the time caught the financial market by surprise.

European Central Bank President Lagarde said on Monday that the current tightening of monetary policy to curb inflation may stifle the recovery of the euro zone, which refutes calls for tightening policies and market bets.

The US Commodity Futures Trading Commission (CFTC) said on Monday that as of the week of November 9, speculators increased their net long positions in gold futures and options to 146,319.

On the daily chart, the price of gold is in an upward (iii) wave that started from US$1,758. The market outlook is expected to attack the target of US$1887 by 138.2%. (Iii) The wave is a sub-wave of the upward wave ((iii)) that started from $1,720.