Gold futures plummet. 2.2% Break below 1200 U.S. dollar Silver futures fall. 5%

　　Spot gold prices on Thursday (10 Moon 30 day ) Fell again by more than 1% , to 1200 The U.S. dollar is under downward pressure, while silver has plunged to its lowest level in over four and a half years. The primary reason for the decline in precious metal prices is the strong economic growth in the U.S. during the third quarter, which has led investors to become increasingly concerned that the Federal Reserve may raise interest rates earlier than previously anticipated.

　　The narrowing of the U.S. trade deficit and a significant increase in defense spending further supported the country’s economic growth in the third quarter. Data released by the Department of Commerce on Thursday showed that U.S. GDP for the fourth quarter... (GDP) Year-on-year growth rate. 3.5% Growth exceeding analysts' estimates 3.0% 。

　　Following the Federal Reserve’s announcement on Wednesday that it was ending its bond-buying program and expressing confidence in U.S. economic growth, gold continued to face selling pressure on Thursday. Analysts say they expect the Fed to raise interest rates sooner than previously anticipated, further strengthening the U.S. dollar—a development that could intensify the downward pressure on gold prices. As real interest rates rise and the U.S. dollar strengthens, gold prices are inevitably set to undergo further adjustments and could even fall below their previous lows.

　　Spot gold fell to as low as per ounce during trading. 1195.70 The U.S. dollar hit a three-week low and plunged in late trading. 1.1% per ounce, reported 1198.70 Dollar.

　　New York Mercantile Exchange (COMEX)-12 Gold futures closed lower. 26.30 U.S. dollar, quoted per ounce 1198.60 The U.S. dollar. Preliminary data indicate that trading volume at the close may have been higher than... 30 Daily average.

　　Currently, U.S. interest rate futures indicate that next year... 9 The probability of a rate hike this month exceeds. 50% , previously indicated to be next year 10 The U.S. raised interest rates, which has also dampened investors’ enthusiasm for gold. In addition, the continued strengthening of the U.S. dollar and data showing weak price pressures in Germany and Spain have further dragged down precious metal prices.

　　The world’s largest gold-backed exchange-traded fund SPDR Gold Trust GLD It said that its gold holdings decreased on Wednesday. 1.2 ton, to 742.40 Ton, at a six-year low.

　　Spot silver plunged sharply on Thursday. 3.7% per ounce, reported 16.41 The U.S. dollar earlier fell to 16.30 Dollar, for 2010 Year 3 The lowest level in months. COMEX Options Exchange Trader Jonathan Jossen It was reported that the sharp drop in copper prices prompted investors to sell off silver, and silver has now fallen below... 16.80 Key support levels near the U.S. dollar, following the recent low touched earlier this month, have triggered further technical stop-loss selling.