Today on Wednesday (September 28), spot gold fell slightly, and gold maintained a downward trend in the intraday market.gold priceThe $1,625/oz mark rose to maintain a downward trend.
The U.S. dollar is on a tear, and the global foreign exchange market continues to fluctuate. The US dollar index once exceeded 114.5 yesterday, and the cumulative increase since the beginning of the year has reached 19%. In addition, after the British government announced the most aggressive tax cuts since 1972 last week, the Chancellor of the Exchequer Kwarten revealed that further tax cuts may be introduced over the weekend. Investors lost confidence in the pound, which fell as much as 4.7% to $1.035 yesterday. .
Without the support of sufficient funds, the British government’s large-scale easing of fiscal policy, coupled with the Bank of England’s cautious tightening of monetary policy throughout the year, there are currently few “catalysts” that can boost the pound. Even more aggressive policy from the Bank of England may not be enough as investors are waiting for the Fed to change its tone, which is unlikely to happen anytime soon.
Fiscal stimulus will change the outlook for the UK economy, but not enough to avoid a recession. Sterling could dip below $1 in the coming days and weeks, but from a valuation perspective, this is an unsustainable level and when risk sentiment subsides, the pound will bounce back quickly.
Today’s gold disk temporarily maintained a step down for 4 hours. Therefore, continue to choose the ladder to go short. Continue to deal with the idea of every high sky. Among the gold trend day K, the first is the descending channel; the second: the indicator oscillates with a dead fork, and the MACD indicator is dead fork downward. In terms of shape, there is no obvious reversal of the K-line pattern, which is all bearish and downward. Therefore, the main bearish bearish down.
Gold Investment Network
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Responsible editor: Zhang Jingdi