On September 16, spot gold maintained a decline, hit a low of $1,659 per ounce, reaching a two-year low of . Because Fed aggressive rate hike , weakening the momentum of gold's rise. Gold prices may fall to $1,643 in the future.
At present, the gold prices in major domestic gold stores have also fallen. Among them, the highest gold price is still Lao Fengxiang , and the quotation for is 495 yuan/gram. It fell 4 yuan/gram from yesterday. The lowest price of gold in is Caibai, with the quotation of at 479 yuan/gram, down 6 yuan/gram from yesterday.
As of press time, the gold price of Zhonggui Gold Cost investment gold bar was 383.57 yuan/gram, down 2 yuan/gram from yesterday.
The latest prices of major brands of gold stores are shown in the table below for reference only:
You can see that the price of html Shengsheng and Caibai gold fell by more than 1.22%, with an average drop of 6 yuan per gram! This is the biggest decline in gold prices this week.
As people's expectations that the Fed will raise interest rates by 100 basis points are rising , is expected to soften further.
Industry investors said that if the Fed really raises interest rates by 100 basis points next week, gold may return to the 1600 era. is converted to the domestic gold price according to the current 7 yuan exchange rate , and is about 360 yuan/gram.
Financial website analyst pointed out that from the current perspective, the long-term trend of gold prices in has begun to turn to decline.
As the Federal Reserve aggressively raises interest rates, the central bank of the United Kingdom, Canada and other countries also raises interest rates simultaneously to resist inflation. In response, World Bank issued a warning that central banks' efforts to suppress inflation may cause global economy to fall into recession next year.
The current market view on gold futures has two situations. One is that if the Federal Reserve policy can effectively control inflation and the economy is slowly recession, then the gold price will continue to fall, and may bottom out of below $1,600.
2 If inflation is not controlled and the economy is recession, the price of gold in may rise back to $1,900.
However, the current gold price is still mainly falling. How much do you think gold can fall to at the lowest level?
