Today on Tuesday (August 16), at 13:24 Beijing time, the main US gold opened at $1,795.5000/oz today, and closed at $1,795.1000/oz yesterday, while spot gold opened at $1,779.65/oz yesterday, and closed at $1,779.29/oz yesterday. ounce. The main US gold quotation was US$1795.9000 per ounce, an increase of 0.04%; the quotation of spot gold was US$1781.15 per ounce, an increase of 0.10%.
Domestic gold varieties market:
Today, the main opening price of Shanghai Gold was 390.54 yuan/gram, and yesterday’s closing price was 392.00 yuan/gram. Gold TD opened at 388.43 yuan/g during the day, and closed at 390.71 yuan/g yesterday.
Before the minutes of the meeting, the hawks were expected to show their power, and gold fell by $30, approaching 1770
Last week, U.S. data showed that U.S. consumer and producer prices cooled in July and import prices fell for the first time in seven months.
Headline inflation in the U.S. economy appears to have passed its peak, prompting a hawkish Federal Reserve to loosen expectationsgold priceShort-term rebound to above 1800.
But the good times didn’t last long. On Monday, gold not only failed to stabilize, but continued to fall for the day. Before the minutes of the Fed meeting, hawkish expectations once again peaked, causing the price of gold to plummet by $30.
Although the U.S. CPI and core CPI growth rates announced last week both fell, and the pace of price increases is slowing, indicating that U.S. inflation may have peaked, no Fed official has yet stated that they will slow down aggressive Monetary Policy.
“Despite the fall in inflation (in July), it is too early for the Fed to release the brakes,” said Danske Bank’s chief currency strategist, maintaining a bullish view on the dollar. Yesterday, the U.S. dollar index was approaching the 107 mark for two consecutive days last week.
Analysts believe that the continued surge in prices over the past year has caught Fed officials off guard. Even with initial signs that inflation may have peaked in July, consumer prices surged 8.5% year-on-year in July and core inflation was well above the 2% target.
Last week, Fed officials spoke out several times that the fight against inflation would be more protracted, and would not hesitate to tolerate a moderate recession in the process. Investors believe a downturn, even a slight one, could trigger a rate cut, but Fed officials have so far made no such commitment.
Gold Investment Network
Massive information, accurate interpretation, all in Sina Finance APP
Responsible editor: Zhang Jingdi