The market is obviously divided, where will gold go next week?
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https://www.tradingview.com/x/TXLOHf18/
Central banks in many countries have announced interest rate cuts, including Canada, Sweden, Switzerland, and the European Central Bank has also cut interest rates. These measures not only reduce the opportunity cost of holding safe-haven assets such as gold, but may also ease inflationary pressures, making safe-haven assets such as gold relatively less attractive. Investors' safe-haven demand for gold may decline.
The recent Israeli air strikes on the Gaza Strip have led to an increase in geopolitical risks, resulting in many casualties. This geopolitical uncertainty has driven investors' demand for safe-haven assets such as gold, thereby supporting gold prices. However, this support may only be temporary. If the geopolitical situation eases, gold prices may also face correction pressure.
The non-farm payrolls data for May released by the U.S. Department of Labor showed that the number of new jobs in the non-agricultural sector in the United States in May was 272,000, far exceeding market expectations, and the unemployment rate also rose. This strong employment data directly led to a cooling of market expectations for the Fed's interest rate cut. Traders adjusted their expectations for the Fed's interest rate cut at the end of December from 48 basis points to 37 basis points, and expected the first interest rate cut to be more likely to occur in November rather than September. This has had a significant impact on the gold market, because gold, as an interest-free asset, is relatively less attractive in an environment of rising interest rates.
After 18 consecutive months of gold purchases, the People's Bank of China suspended its purchases in May. As the world's largest gold consumer, the decision of the People's Bank of China was interpreted by the market as a reduction in demand for gold, which intensified the downward pressure on gold prices. Although analysts pointed out that this may be just a return to the market's more price-sensitive operating mode, it will still have a certain negative impact on the gold market in the short term.
Gold fell nearly $100 from this week's high on Friday due to a series of factors such as non-agricultural data. From a technical perspective, the gold market will first focus on the adjustment strength of gold next week and adjust positions to short gold. Next week, investors need to pay close attention to important financial data and events such as the US CPI, the Federal Reserve's monetary policy decision, the US PPI, the number of initial jobless claims that week, and the monetary policy decision of the Bank of Japan. These events will have a profound impact on the gold market, especially the Federal Reserve's monetary policy decision, which may further clarify the market's expectations for interest rate cuts.
Central banks in many countries have announced interest rate cuts, including Canada, Sweden, Switzerland, and the European Central Bank has also cut interest rates. These measures not only reduce the opportunity cost of holding safe-haven assets such as gold, but may also ease inflationary pressures, making safe-haven assets such as gold relatively less attractive. Investors' safe-haven demand for gold may decline.
The recent Israeli air strikes on the Gaza Strip have led to an increase in geopolitical risks, resulting in many casualties. This geopolitical uncertainty has driven investors' demand for safe-haven assets such as gold, thereby supporting gold prices. However, this support may only be temporary. If the geopolitical situation eases, gold prices may also face correction pressure.
The non-farm payrolls data for May released by the U.S. Department of Labor showed that the number of new jobs in the non-agricultural sector in the United States in May was 272,000, far exceeding market expectations, and the unemployment rate also rose. This strong employment data directly led to a cooling of market expectations for the Fed's interest rate cut. Traders adjusted their expectations for the Fed's interest rate cut at the end of December from 48 basis points to 37 basis points, and expected the first interest rate cut to be more likely to occur in November rather than September. This has had a significant impact on the gold market, because gold, as an interest-free asset, is relatively less attractive in an environment of rising interest rates.
After 18 consecutive months of gold purchases, the People's Bank of China suspended its purchases in May. As the world's largest gold consumer, the decision of the People's Bank of China was interpreted by the market as a reduction in demand for gold, which intensified the downward pressure on gold prices. Although analysts pointed out that this may be just a return to the market's more price-sensitive operating mode, it will still have a certain negative impact on the gold market in the short term.
Gold fell nearly $100 from this week's high on Friday due to a series of factors such as non-agricultural data. From a technical perspective, the gold market will first focus on the adjustment strength of gold next week and adjust positions to short gold. Next week, investors need to pay close attention to important financial data and events such as the US CPI, the Federal Reserve's monetary policy decision, the US PPI, the number of initial jobless claims that week, and the monetary policy decision of the Bank of Japan. These events will have a profound impact on the gold market, especially the Federal Reserve's monetary policy decision, which may further clarify the market's expectations for interest rate cuts.
Transaction en cours
I predict that gold will rise first and then fall next weekTransaction en cours
The general direction will continue to be bearish next weekTransaction en cours
Have a nice weekend, ladies and gentlemen.Transaction en cours
Monday layout emptyTransaction en cours
Gold’s downtrend has begun and will continue next weekTransaction en cours
Have you not opened a real account yet?Transaction en cours
I said the decline would continue next week.Transaction en cours
The current downward trend is still in the correction categoryTransaction en cours
Please be prepared for trading, the opening time is very close
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