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In order to fight inflation, the Federal Reserve raised interest rates by 75bps, the hawkish stance that was not as good as the market imagined, dragging down the dollar and boosting the price of gold. Affected by the Russian-Ukrainian war, the global economy is mired in inflation, which may continue to support gold prices. However, the initial value of the annualized quarterly rate of real GDP in the second quarter of the United States unexpectedly contracted by 0.90%, showed that the global economic growth slowed down, increasing the opportunity cost of holding gold, which is expected to drag down gold prices in the medium and long term.
The trend of gold can be paid attention to…
Latest news on the Russian-Ukrainian war
20:30 US Core PCE Price Index (YoY) (June)
22:00 US University of Michigan Consumer Confidence Index Final Value (July)
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.
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