On Friday (September 16), international gold prices hit a new low since late April 2020 to US$1,659.42 per ounce. Affected by this, the domestic gold price fell across the board today. Except for the three brands of Saturday, Lao Fengxiang , and Weekly Dasheng , and the rest have fallen below this level. Among them, the price of CAOBao gold is the lowest, which has dropped to 479 yuan per gram. This is the gold price announced on the official website today, for reference only:
Today's gold store gold prices (September 16, 2022) | ||||||||||||
Gold store quotation | Today's gold price | Unit | Change range | Today's gold price | Unit | Change range | rise and fall | |||||
Laomiao Gold price | 488 | yuan/gram | 5 | 5 | 0 drop | |||||||
6fu Gold price | 489 | yuan/g | 4 | 4 | 00 | |||||||
Weekly Dafu Gold price | 489 | 00 | 4 | 4 | 0 | 0 | 0 | 0 | ||||
490 | yuan/g | 4 | 4 | drop | ||||||||
Gold Supreme Gold Price | 489 | yuan/g | 4 | falls | ||||||||
Lao Fengxiang gold price | 495 | yuan/g | 4 | 4 | 4 | 0 falls | ||||||
Chao Acer gold price | 489 | htt ml0 yuan/g | 4 | 4 | 0 slump | |||||||
weekly Shengsheng gold price | 486 | yuan/g | 6 | 0 slump | ||||||||
sluggis | 479 | yuan/g | 6 | 0 drop | ||||||||
Chinese gold price | 488 | 4 4 | 4 | 4 Falling | ||||||||
Weekly Big Gold Price | 493 | yuan/gram | 0 | 0 | flat |
Because Fed aggressive interest rate hike prospects consolidate the reason for bullishness in the US dollar, weakening gold's attractiveness. The main uncertainty now is whether the Fed will expect this round of interest rate hike cycle next week to terminal interest rate level median is higher than the market's current expectations of about 4.5%.
Beijing time at 15:19, spot gold fell 0.19% to $1661.68/oz; COMEX gold futures main contract fell 0.42% to $1670.2/oz; USD index rose 0.14% to 109.856. Yeap Jun Rong, market strategist at
IG, said: "...Before the Federal Open Market Committee meeting next week, bearish momentum may continue to push prices down, when the Fed may announce hawkish results." After unexpected consumer prices rose in August, the market expects the Fed to raise at least 75 basis points at its policy meeting from September 20 to 21, and the possibility of 100 basis points is not ruled out.
. Data released on Thursday (September 15) showed that US retail sales unexpectedly rose in August due to falling gasoline prices, while the number of initial unemployment claims in the United States fell last week. These all enhance the reason for the bullish dollar. Economists at TD Securities expect that "the continued outflow of funds management companies and ETF positions in funds will put pressure on gold prices, and the continued high inflation will continue to support the Fed's positive measures.We now expect FAP (FOMC) to raise its target rate by 75 basis points at next week's meeting, another 75 basis points in November and further 50 basis points in December. "In fact, when the actual level of federal funds rate is expected to rise above neutral interest rates since then, gold prices tend to systematically underperform. "
Commerzbank economists believe: "The Federal Reserve will inevitably raise interest rates significantly next week - whether it is 75 or 100 basis points. The main uncertainty is whether the Fed expects the median terminal interest rate level in this round of interest rate hike cycle to be higher than the market's current expectations of about 4.5%, and this uncertainty may support the US dollar at present. ”
