On the other hand, the announcement of China’s stimulus measure lifts investors' confidence and boosts the gold prices. On the weekend, the Chinese authorities said that they would reduce the 0.1% duty on stock trading to stimulate the capital market and strengthen investor confidence. Additionally, the China Securities Regulatory Commission (CSRC) is implementing measures to bolster market confidence in listed companies after the Chinese equities index slumped to nine-month lows. The positive development surrounding the stimulus plan from the Chinese government could limit gold’s downside as China is the major gold consumer in the world.
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Target 1945
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