Daily discussing gold | Federal Reserve ’s interest rate hike boots landed, gold price inertia falls

Today's guest: Liu Zhongshan, a researcher at the Beijing Gold Economic Development Research Center

This week's international gold price opened at $ 1676/ounce, rushed to a maximum of $ 1688/ounce, and the lowest exploration to $ 1653/ounce.

At the level of news, due to the strong employment growth and unemployment rate in the United States, the Fed's 75 basis points in interest rate hikes meet the expectations. At the same time, the Federal Reserve reiterated that it is appropriate to continue to raise interest rates. The overall wording shows the eagle statement, and the price of gold shows a low oscillation. The main reason for the Federal Reserve ’s 75 basis points is that it must control both inflation at a high level, but also take into account economic growth. The Fed’ s interest rate hike has not exceeded market expectations.

The US dollar index has risen strongly after the announcement of the interest rate hike data, and global funds accelerate the return of funds. It has put a certain pressure on precious metals and commodities. The price of gold is in a short trend. Although there is no unexpected sharpness, the price of gold will show an inertial decline when there is no favorable factors to reverse the current price of gold in weakness and bring a large -scale intervention.

Crude oil prices and gold prices are highly linked, and Europe still faces an energy crisis, which constitutes important support for crude oil prices. However, the Fed's interest rate hike policy and selling crude oil strategic reserve operations have significantly suppressed crude oil prices. The pricing power of international commodities is greatly affected by the European and American financial system, so whether the price of crude oil will fall to $ 44/barrel still needs to be further observed. From the current point of view, the boost of crude oil prices have been relatively limited from the geographical situation. Supporting effects will also weaken.

Taken together, the current price of gold has fallen to a relatively low level, and the funding funds are eager to try. However, the entire situation is still empty. Although the Fed's interest rate hike policy is in line with expectations, it cannot be interpreted as favorable, but its strength is weakened. Under inertia, there is still room for gold prices to fall. It still cannot be bought prematurely before it was not a major favorable stimulus, mainly based on short thinking.

Judging from the Golden ETF position, ETF has a total position of 950.13 tons, 2.9 tons on September 20th, 4.63 tons on September 21, 1.16 tons on September 22, 2.03 tons on September 16, 10.72 tons this week, 10.72 tons of 10.72 tons this week. Essence ETF has been significantly undergoing a significant pressure on gold prices this week.

The price of gold is facing the Federal Reserve's interest rate hikes, the short -term trend of the daily line is obvious, and the ETF has been significantly reduced to the gold price. On the whole, the short trend has not been changed. It is expected that the operating range is US $ 1,630/ounce to $ 1700/ounce. The short -term operation of short -term operation is mainly based on the long -term operation, and the multi -heading operation needs to be cautious and strictly stopped. The above suggestions are for reference only.

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