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Gold Falls and Dollar Rise ahead of US Midterm Elections

2018-11-06 08:48 am | Resource: News | No Views : 53

 Gold prices fell while the dollar rose slightly on Friday ahead of US midterm elections later in the day as analysts expected the Republicans' victory to boost the dollar and commodity prices

 US midterm elections

At the midterm elections, US intelligence agencies said they found no indication that the electoral structure was compromised before the election.

"At this time we have no indication of the waiver of electoral infrastructure in our country that would prevent voting, changing votes, or disrupting the ability to count votes," the heads of the Department of Homeland Security, the Department of Justice, the FBI and the director of intelligence In a joint statement.

They said the United States would not tolerate foreign interference in elections from Russia, China, Iran or other countries. Russia has denied US accusations of interfering in the 2016 presidential election.

Trade tensions

On the level of trade tensions, Chinese Vice President Xi Jinping said that Beijing is still ready to discuss solutions to trade issues with the United States, but warned that his country will not accept any pressure from foreign powers again

Chinese President Xi Jinping said at the international import fair on Monday that he supports globalization, but he has not announced any detailed measures that would meet US President's trade demands, including the suspension of forced technology transfer and over-support of state-owned enterprises. .

Gold Trading

 The Dollar Index, which tracks the greenback versus the basket of other currencies, rose 0.1% to 96.19.
December delivery of gold futures for the December delivery of the New York Mercantile Exchange fell 0.1% to $ 1231.7 per ounce by 05:02 GMT.

Other analysis

OIL Technical analysis 16 November 2018

Time frame Used - four hours Oil is moving in a bearish direction in the near term. Oil is still under selling pressure, as it has not been able to test the resistance level 57.88 to face oil selling pressure around the level of 57.37 to fall back down again. In view of the technical indicators Both the RSI and the Stochastic are indicating the arrival of indicators to the…

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