Gold prices may yet to hit their ceiling as multiple uncertainties fuel risk aversion. International spot gold price once approached the historic mark of US$2,200 per ounce. Domestic retail price of pure gold in China is also rising, approaching RMB 670 per gram. Aakash Doshi, head of North American commodities research at Citibank, said gold prices could soar to $3,000 an ounce in the next 12 to 18 months. The most likely factor leading to this situation is the accelerated de-dollarization of central banks in emerging markets.
After almost a full month of "surging", the international gold price came to a sharp brake at the end of September. London gold spot price closed at 25.10 US dollars / ounce on October 5, hitting a new low in nearly seven months. Experts interviewed generally said that the current round of gold price decline is a comprehensive impact of factors such as US bond yields, and the weakening of market risk aversion. Despite the "dive" in gold prices, most market participants are still optimistic about the future of gold prices.
FIRST ON FOX: Republican Senators Tom Cotton and Marco Rubio warned Treasury Secretary Janet Yellen about the Chinese Communist Party (CCP) and Kremlin-linked company trying to buy a storied American media brand. Cotton and Rubio wrote to Yellen on Tuesday regarding the Sun Group's bid to acquire Forbes, calling on the Treasury secretary "to conduct
GOP Sens. Tom Cotton of Arkansas and Marco Rubio of Florida sent a letter to Treasury Secretary Janet Yellen calling for a review of the proposed deal by a CCP-linked company to buy Forbes.