Today’s guest: Chengdu Fengye Co., Ltd. Lu Jun
US dollar and US bond yields both rose, stirring up the global capital market. International gold prices performed very weakly in the face of strong US dollar and bond yields. International gold prices continued the weakness of the previous week this week, falling below the $1,640/ounce platform. From the weekly level, international gold prices are moving towards a three-consecutive pattern, with a structural tendency of short positions.
is currently dominated by the tightening policy of the Federal Reserve , and both the commodity market and risky assets are performing very weak. Behind the strong US dollar, US dollar-denominated assets have suffered Waterloo, while international gold prices have fallen again and again, setting a new low in the past two years. Previously, the author emphasized that after the Fed's interest rate hike in September, the market should pay attention to the signals further released by the Fed. As long as the Fed releases a signal of a temporary rate hike, it can reverse the current market weakness. For now, Fed officials' speeches still regard curbing inflation as a priority, and there is still uncertainty about the decline in inflation. In this case, it is possible to change its strong interest rate hike momentum unless it can be seen that U.S. inflation is eased.
will usher in the PCE price index, which the Federal Reserve relies most this week, which will bring some hope to the market. Although the CPI data rebounded again in August, its strength has weakened significantly. If the US PCE price index released this week can continue to fall, it will provide guidance for the Federal Reserve's next rate hike action. Judging from the current operation of international gold prices, it is undoubtedly still showing a weak pattern, especially in the two trading days of the beginning of the week, the gold price did not form an effective rebound, but instead further broke down, which further aggravated the weak gold price this week. According to the current trend, it is expected that international gold prices will continue to show a volatile downward trend during the day, and short-term support is not obvious. It is not ruled out that they will further point to the $1,600/ounce mark.
