Weekly

Following the pressure of earlier retreat, the price of gold was still under pressure at the beginning of last week, and the labor market was stronger than expected, which eliminated the possibility that the Fed would continue to cut interest rates rapidly. In the middle of the week, the Federal Reserve released the minutes of last month's interest rate meeting, which showed that the directors were divided on interest rate reduction. Although the interest rate reduction period is the general direction, the rate does not necessarily need to be reduced by half a percentage point. I believe this rate is really only a preventive adjustment, so it is not possible to cut interest rates by another percentage point before the end of the year. At one time, the price of gold was as low as 2602

Another focus of the market is the general account data. The United States announced on Thursday that the CPI in September was 2.4%, and the PPI in September was 1.8%. Although both were expected to be high, it was the lowest growth in the past three years, which really showed that the inflation risk was getting less and less. The Fed no longer needed to use the high interest rate environment to suppress prices. Gold gained momentum and regained its lost ground at the beginning of the week. Before the weekend, it once regained the position of 2661.39, refreshing the weekly high.

Looking forward to this week, there are not many important economic data, and whether there will be new progress in the situation in the Middle East is the key. If Israel continues to shell, it will be more likely to cause a brush gun to go off. Before the war has subsided, funds still tend to stay in the gold market to avoid it. However, if there is an opportunity for peace talks, the price of gold may also take the opportunity to retreat from the increase of nearly 30% this year. The market situation is a bit different, so let's refer to each other.