Weekly

Last week, gold mainly waited for the Fed's words, hoping that there would be guidelines to consider when and how much the United States would cut interest rates. After the end of the global opening tide, the focus of the market return was on the budget of the US interest rate reduction period. On Tuesday, officials sent pigeons to push the gold price to a new high, and it only began to take a retreat when it rose to 2531.66. However, like the past trend, every retreat of gold was an opportunity to enter the market, and the upward trend was not reversed.

The price of gold retreated to 2470.81 once in a week, and fell to the previous three peak positions. The resistance became supportive and gained the momentum of rebound. At the Jackson Hole meeting on Friday night, Federal Reserve Chairman Powell delivered a speech, saying that the inflation risk was declining, while the labor market risk was rising, and it was clear that there was no suspense to cut interest rates in September. The market even looked forward to a possible reduction of nearly 1% before the end of the year, the dollar weakened further, and the price of gold stabilized and rebounded again, and stabilized at 2500 for the whole week.

Looking forward to this week, the focus is on the PCE data of the weekend. The recent inflation shows that the price level has stabilized. I believe that the interest rate reduction period will start without hindrance. If inflation falls further, it can even support the gold price to make further progress and strengthen. The market situation is a little bit worse. Let's refer to each other.