Gold, Silver Price Analysis: Weighed by Stronger US Dollar Post-Debate
GOLD & SILVER PRICE OUTLOOK: Gold prices swung lower as the US Dollar gained, eyeing key resistance at US$ 1,910 Silver’s performance trailed gold, facing selling pressure at US$ 24.50 The first US presidential debate delivered little surprises, but sentiment quickly turned sour Gold and silver prices paused gains after a three-day rally, as the US Dollar climbed after the first US presidential election debate. The debate didn’t deliver much of a surprise to the currency market initially, but sentiment quickly turned sour thereafter. The US Dollar, a perceived safe-haven, advanced 0.18% post-debate, sending gold and silver prices down by 0.38% and 1.2% respectively. As Hong Kong and mainland Chinese markets enter into a long weekend, traders may prioritize risk management and prefer to stay on the sideline. The “ Golden Week ” , which describes the 8-day Chinese National Day holiday, may see a sharp fall in overseas travelling and spending this year...
