Gansu Guoxin Bulk Commodities Electronic Trading Co., Ltd.

Cathay Huayi Bulk Precious Metals Precious Metals Trading Recruiting Agents at All Levels Should Managers Call Hunan Cathay Huayi Bulk Precious Metals Silver Agent Longsheng Bulk Silver Investment Hunan Cathay Huayi Bulk Precious Metals Silver Account Opening International gold prices rose on the last trading day of this year, but for the third consecutive year It ended lower and may remain under pressure in 2020 as the United States has started a new interest rate hike cycle.
In trading on the last day of the year, gold prices rose less than $1,000 per ounce. Intraday trading was thin as many investors took a break over the Christmas and New Year holidays.
The price of gold has fallen by about 3% this year to its lowest level since January. At the same time, gold prices fell for the sixth consecutive quarter this quarter, the longest quarterly decline since mid-2000s.
A key factor behind this is investors' expectations that the United States will raise interest rates for the first time in nine years.
As the United States embarks on a new round of interest rate hikes, the pressure on gold may continue into the new year.
The question of whether gold prices will rebound next year does not depend on whether the Federal Reserve will raise interest rates, because that seems to be a certainty, but on whether the Federal Reserve is the only central bank to raise interest rates.
The key factor in the gold market remains the strong U.S. dollar, which ultimately overshadows all other factors, including economic and geopolitical issues.
In addition, falling oil prices have also put pressure on gold prices. Gold typically tracks crude oil prices as it is seen as a hedge against oil-induced inflation.
However, compared with other commodities, gold prices have been relatively stable. Copper futures have fallen by about 50% this year, iron ore has fallen by about 1%, and Brent crude oil futures have fallen by about 1%. In other precious metals, platinum futures have fallen by more than 10% this year, while silver futures have fallen by nearly 1% this year.
In other precious metals, silver futures for March delivery settled lower at $1.00 an ounce on Thursday, while platinum futures for April delivery rose at $1.00 an ounce. Palladium futures for March delivery rose to USD an ounce.