Gold price outlook in the last 2 months of the year

David Meger, Director of Metals Trading at High Ridge Futures Prices, said gold prices fell due to a combination of psychological resistance around $2,000/ounce and pre-market profit taking. Important economic data are announced.

But this expert still maintains a positive view on gold prices as the need for "safe haven" continues to increase amid the conflict in the Middle East.

The downward trend continued to follow the market after the FED announced the much-awaited decision to keep interest rates unchanged and FED Chairman Jerome Powell said that the agency is not currently considering cutting interest rates.

In the session of November 3, world gold prices increased in the context of a decrease in the USD and US Government bond yields due to speculation that the FED could complete the interest rate increase, while investors waited for data on the working in the US non-agricultural sector to get more clues.