SMM News: gold volatility was limited on Monday, and trading volatility failed to exceed $20 throughout the day. Gold was weak throughout October and basically failed to get out of the trading range of 1880-1933. As the US election approaches, the market may wait for the news to be clear before there is a trend and direction.
Review of important news data overnight
There is little hope for a stimulus deal in the United States. Cudlow: a large number of issues listed by the Democratic Party cannot be approved by the president.
House Speaker Nancy Pelosi and U.S. Treasury Secretary Mnuchin discussed the stimulus bill for the first time since last Wednesday. Cudlow, the White House economic adviser, revealed that a large number of issues listed by Pelosi could not be endorsed by the president. Pelosi criticized the White House for not accepting the national novel coronavirus testing plan. Since Friday, the White House and Democratic leaders have been blaming each other.
End four months of straight gains! Sales of new homes in the United States unexpectedly fell month-on-month in September, but the average selling price hit an all-time high
In September, after a quarterly adjustment, sales of new homes in the United States fell 3.5% from a month earlier to an annualized 959000 units, falling below the 1.3% increase expected by the market. The value before August was revised down, bringing the volatile new home data back below the 1 million round mark. The average selling price is $405400, an all-time high, and analysts say the price is the reason for the drop in sales.
Technical Analysis of Golden Daily Chart
Golden Monday small cross star finishing, although there is a stage low, but to the close is still maintained at 1900 integer level, the position of the long-empty struggle is more obvious. As the trading range narrows, investors are now more cautious and are not expected to get out of the previous range until there is a clear push. Breaking above 1933 will open space to 1960, and breaking 1882 will mean that the previous low will be tested again.
