FED & ECB May Raise 75bps Interest Rate In Sept, Would Gold Keep It’s Bear?

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In order to curb the high inflation, both of the FED and ECB supported a massive 75bps rate hike in September, weighing on gold prices. Analysts believe that if the price of gold falls below the 1711.38 support level, it will likely fall further to around the July low of 1680.79. Although the price of gold is still supported by factors such as geopolitical situation, high inflation expectations and market economic recession fears, the resolute hawkish interest rate hikes by ECB and FED may continue to suppress gold prices.

The trend of gold can be paid attention to…
-Latest news on the Russian-Ukrainian war
8/31
-17:00 Eurozone CPI (MoM) (YoY) (August)
-20:15 US ADP Employment Report(August)
9/1
-20:30 US Unemployment Claims for the week ending 8/27
-21:45 US Markit Manufacturing PMI Final Value (August)
-22:00 US ISM Manufacturing PMI (August)
9/2
-20:30 US Unemployment Rate (August)
-20:30 US Non-Farm Payroll (August)
Which will affect the trend of gold, and investors must seize the opportunity to place orders.
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Disclaimer: Information above can only be use for references and doesn’t represent our platform’s opinions.