TechFlow news, September 8 — According to Jinshi Data, gold prices hit a new record high, surpassing $3,640 per ounce, rising nearly 1.5% during the day.
Adam Button, analyst at U.S. financial website investinglive, said that after breaking out of the consolidation range from April to September, gold prices have entered a parabolic upward trajectory. There is no real secret behind this, mainly due to five reasons: 1. Trump is attempting to take control of the Federal Reserve and push interest rates lower than they would otherwise go. 2. The global trade order is disintegrating. 3. The global order surrounding military intervention is collapsing (refer to comments by U.S. Vice President Vance over the weekend regarding the killing of Venezuelan citizens). 4. Fiscal spending is out of control. 5. Technical indicators are uniformly supportive.
