Market Interest Rate Hike Expectations Cooled, Gold Bull May Return?
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Yesterday, the dollar hit a new high in nearly 20 years, and the price of gold also tumbled to an 11-month low. Overall, the prospect of interest rate hikes by the Federal Reserve and global central banks, coupled with the continued strength of the U.S. dollar, gold price is expected to continue to fall under pressure in the short-term. However, with the Fed’s hawkish officials only supporting a 75 basis point interest rate hike in July, market interest rate hike expectations have cooled, and the U.S. Consumer Confidence Index is expected to hit a new low, showed that global recession fears have intensified, which may provide good support for 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 Retail Sales Index (MoM) (June)
-20:30 US Import Price Index (MoM) (June)
-21:15 US Industrial Output (MoM) (June)
-22:00 US Commercial Inventory (MoM) (May)
-22:00 University of Michigan Consumer Confidence Index Preliminary 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.