This important data this week will affect the gold price!

Last week, the economic data released by the US market at the beginning of the week performed well, which strengthened the expectations of the Fed's continuous radical interest rate hike, which caused the US dollar to strengthen the new high since mid -June 2002, and the spot gold continued to be under pressure. It was announced that the three key interest rates were raised by 75 basis points. The European Central Bank said that the current inflation rate is still too high. It is expected that it will further raise interest rates to suppress inflation. The 75 basis points of this interest rate hike are the largest interest rate hike in history. The main reason for the high inflation is the energy crisis faced by Europe. The high inflation rate has become a problem that the European Central Bank is currently urgently needed. As long as the inflation is still at a high level, the European Central Bank has to adopt a tightening policy, but at the same time It may damage economic growth.

International Gold Price Daily Map

The international gold price trend since early August 2022

The continuity of international geopolitical conflicts and the approaching winter, European energy shortage may be even more severe. It is expected that the inflation pressure in the euro zone will continue to be greater than the inflation pressure that is greater than the United States, which is difficult to relieve significantly. The market generally believes that its argument is biased towards the eagle.

Many Federal Reserve officials maintain the eagle statement and continue to emphasize the response to inflation in interest rate hikes. Among them, the Fed Vice Chairman Bre even said that the Fed's policy interest rate needs to be further improved, and a restricted monetary policy may be needed for a period of time; the Federal Reserve Chairman Mest is expected to cut interest rates next year, and decision makers need to avoid inflation expectations. The Federal Reserve President Powell at the Monetary Policy Conference on the Carrto Research Institute showed a resolute attitude of the Fed's anti -inflation. The Federal Reserve's next meeting will be held from September 20th to 21st. Powell retains the choice of 75 basis points to raise interest rates again or changes to 50 basis points, emphasizing that the final decision of the policy depends on the overall situation of economic data. Federal officials' eagle speech stabilized bets on a sharp interest rate hike.

Although some data from the United States are empty gold and the Lido dollar index, the Federal Reserve officials have not been shown in the market. Instead, the price of gold has gone out of a wave of rebound. The US dollar index fell from a high level. The rise in the US dollar index has been valued at the Fed's Eagle Speech, and the typical selling expected buying facts.

The market pays close attention to the consumer price index (CPI) in August this week. In addition, data such as retail sales in the United States also need to pay attention. The global trade situation, epidemic situation, and European energy crisis may affect market sentiment.

In terms of capital flow, as of September 10, 2022, the world's largest gold ETF gold holding volume was 966.64 tons. Last week, it reduced 6.44 tons. The world's largest silver ETF holding volume was 14559.86 tons. Essence

Technical aspect: The spot gold price has been collected for the first time since the surrounding area. The price of gold in the daily line runs between the Bollinger mid -rail and the lower rail. The indicator (KDJ) golden fork is slightly scattered, and the differential moving average (MACD) green kinetic energy column continues to shrink. The dead fork formed before has been flat at the low position, and the slightly picked up into a golden fork. The short -term bearish signal is weakened, and the price of gold may break the weak pattern. The support position of the US $ 1681.11/ounce of the lower rail of the Bollinger below will focus on the breakthroughs near $ 1730/ounce.

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