Weekly

August 9 th
 
Today's volatility range:

The inflation and owner data that the Federal Reserve is mainly concerned about have been basically met. It is expected that the delisting schedule will be announced to the world within this year. After reducing debt purchase, it will raise interest rates. According to Clarida,

The Federal Reserve began to raise interest rates in 2023. Rising interest rates are not conducive to gold, an investment tool that will not earn interest. It is expected that the gold market will be weaker this week. It has plunged to 1672 this morning, hitting a one-year low, and is now covering short positions.

After rebounding, it can be emptied again, and the suggested amplitude is between 1710 and 1742.
 

Last week, the official media reached out again, and the dairy stocks became the latest target of the central government. The domestic media quoted a seminar report, saying that many experts at the table said that the marketing method of formula milk powder affected pregnant women not to breastfeed newborn babies.

It is necessary to standardize the marketing behavior of breast milk substitutes. The news dragged down dairy stocks, but Kewang stocks rebounded, and Hang Seng Index rose 0.84% last week. The Bank of England announced the interest rate decision last Thursday, keeping the interest rate unchanged at 0.1%.

And maintain the scale of assets purchased at 895 billion pounds, which is in line with the market expectation. The Bank of England predicts that inflation will continue to rise, rising to 4% in the fourth quarter of this year, and the central bank also said that when interest rates rise to 0.5%,

The central bank will shrink the table. The stronger wording of the minutes of the UK Monetary Policy Committee shows that the Bank of England is changing its monetary policy attitude as the economy improves. Last week, the three major European stock markets performed well.

The German DAX index rose by 0.83%; The CAC index in Paris, France rose by 2.39%; The FTSE 100 Index rose 1.29%.
 

On Friday, the United States released non-agricultural data, which increased by 943,000 people, outperformed expectations, and the unemployment rate dropped to 5.4%. The two data showed that the economy improved and the labor market dilemma was reversed. Wall Street's three major indexes continued to rise, and every week,

Dow Jones index rose 0.69%; The S&P 500 index rose by 0.67%; Nasdaq index rose 0.52%. At the beginning of the week, investors waited for the non-agricultural data to be released, and the gold market remained cautious and relatively calm, contending for between $1810 and $1815.

On Wednesday evening, the United States released a report on the changes in non-agricultural employment. The market expected that the job market would increase by 695,000 jobs, but the result was a big accident, only 330,000 jobs, which was the worst performance in five months.

It also fell for two consecutive months. Weak employment data supported the Federal Reserve's extension of monetary policy easing, and the US dollar was sold off. The US dollar index once fell below 92 points, the worst was 91.82 points, and the gold price soared to 1832 dollars. But the Fed has officials

Not playing cards according to common sense, completely ignoring the latest labor market data, even though the employment data of the new furnace is significantly worse than expected, it still shows the eagle. Clarida Dafa, vice chairman of the Federal Reserve, said at the think tank forum that as long as the conditions are met,

It is expected to start to shrink at the end of this year, and it is predicted that the Fed will raise interest rates conditionally in 2023. As a result, the price of gold dropped sharply by $25, reaching a minimum of $1807.

 
Many Fed officials, including Federal Reserve Vice Chairman Clarida, have repeatedly made hawkish remarks, which made the gold market jittery. As the expected interest rate rise will make the gold price outlook gloomy, the bears exerted their strength on Thursday, and the gold price once fell below the key of $1,800.

On Friday, strong non-agricultural data were released, and the unemployment rate in the United States performed better than expected. The market accepted that the Federal Reserve Clarida's remarks were not "wolf coming", and the gold price plummeted by up to 46 US dollars, closing at 1763 US dollars, down 41 US dollars.

In a week, it dropped by 51 dollars.

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