Weekly

Since the weakening of the labor market, investors are increasingly looking forward to the interest rate reduction period approaching. In September, the opportunity to cut interest rates rose to 70%, and the US dollar was under pressure to support the improvement of gold prices. At the beginning of last week, the market focused on the performance of inflation data and the comments of Fed officials. Although the PPI performance met expectations on Tuesday, it had little impact, but Federal Reserve Chairman Powell stood up and expressed confidence that there was no need to raise interest rates again this cycle, which reduced the market's worries about inflation. The price of gold began to rise, and the CPI improved again in the middle of the week, further supporting the positive tone of gold.

After the period, it failed to hit 2400 for the first time and fell back briefly, but it broke through again before the weekend and successfully stabilized above 2400 before the market closed. The interest rate reduction period is just around the corner, market sentiment continues to ferment, capital and hot money pursue different sectors in turn, and the gold price stabilizes at 2400, which can be said to open the door to 2500. There are not many important data this week, but the PMI data on Thursday is more important, so we can pay attention to whether it has fallen below 50, and the record of the last interest rate meeting announced by the Federal Reserve is also the focus. The market had highly expected that June would be the first interest rate reduction time, and this record will bring important enlightenment to the interest rate reduction process in the second half. For the market, please refer to each other.