The sound of interest rate hikes is high again, and gold bearish
Cognition is the height at which a person views the world, and perspective is the angle at which a person views the world. Standing at the height of the first floor, most of what you see is rubbish. Standing on the tenth floor, you can see the scenery in the distance. If you face north, you will never be able to say that you are facing south.
On June 26, Federal Reserve Chairman Powell hinted that he may continue to increase positions in the second half of the year, and this view is not new at all. I have said before that the increase in the US debt limit will inevitably lead to an increase in the dollar in the market, thereby driving inflation to heat up again. Therefore, raising interest rates is the most direct means and way to cool down inflation, and lowering interest rates can drive gold to rise. Raising interest rates will only keep the dollar strong, and the price of gold will fall when the market expects it.
As shown in the picture, at the end of last Friday, there was a very strong backlash in gold, which instantly reached a high of 1935 US dollars per ounce. However, it has been negatively falling to around 1910 in the early stage, and there is a possibility of falling below 1900 at any time. , The short-term market rebounded in 1935. The pressure is still relatively large. It is estimated that it will not be able to break through this position for a while. However, after the gold price gapped and opened high this morning, it will rebound slightly in the European and American markets to cover the gap. It is still close to the space when it first touched above 1935.
Gold strategy: first hit the area of 1934-1936, stop loss 1940, target 1922-1918.
Traders, if you like this idea or have your own opinion about it, please write in the comments. I will be happy 👩💻
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Gold has already hit the stop profit
