How about the real-time gold market in New York today?

At 14:30 p.m. on March 7, 2018, the real-time price of gold in New York was 1335, which was 0.1 or 0.01% lower than yesterday's closing price. But the overall trend has been fluctuating upward. On Friday, gold closed at 1323.7 in New York, and is now nearly up $12. Why is the recent trend of gold market in New York?


First of all, we need to know what gold in New York is.

New York Gold refers to the gold trading variety of the New York Mercantile Exchange, called Comex gold. The trading code is GC, the trading unit is 100 troy ounces, the quotation unit is US dollar cents / troy ounce, and the minimum price change unit is 0.1 US dollars / ounce. The trading time is from 5:00 p.m. to 3:15 p.m. the next day from Monday to Thursday in Beijing time, And 3:30 p.m. to 4:30 p.m.

We all know that the international gold price is linked to the US dollar, and the gold price in New York is closely related to the situation of the US dollar. When the dollar weakens, the price of gold rises; when the dollar is strong, gold becomes less attractive to investors. So the real-time gold market in New York is also related to the recent economic situation in the United States.

Last week, U.S. Prime Minister trump intended to push forward the collection of 25% steel tariff and 10% imported aluminum tariff. This punitive tariff measure is undoubtedly increasing the trade barriers between the United States and other countries in the world. As an economic power, the United States will increase more difficulties in World Trade and global economic development, so the US dollar is dragged down.

If Trump's trade war has caused a high degree of economic responsibility, the departure of White House economic adviser Cohen is even worse. The Wall Street banker has been keen against punitive tariffs in the past, and trump announced high tariffs on steel and aluminum on Thursday, and the White House economic adviser, who has been in office for more than a year, resigned the next day. This incident gives a hint to the global economic market that the US trade war is likely to escalate.

"Because of Cohen's reputation as a Wall Street supporter, I think this is definitely more important than leaving the White House. In the short term, this will increase market concerns about the possibility of an escalation of the trade war.

In this economic situation, the market investors' panic about the global economic instability has been intensified. As a result, gold, as a hedge asset, has been purchased by confused investors. The real-time gold market in New York has been fluctuating and rising in recent years.

To sum up, the recent trend of New York Gold real-time market is mainly affected by the trump trade war. It also shows that political factors can never be ignored in market investment.

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