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Gold price trend analysis, foreign exchange mt4 MT5 financial master

发布时间：2022-08-25 浏览：118

On Friday (July 1), the international gold price fell below the important psychological threshold of US $1800, hitting a new low of US $1795.04 per ounce since May 16. The aggressive monetary policy adopted by major central banks and the rise of the US dollar weakened the attractiveness of gold. The price of gold is 1748 dollars in the aftermarket.

At 14:43 Beijing time, spot gold fell 0.60% to $1796.28 per ounce; COMEX gold futures contract fell 0.59% to $1796.7 / ounce; The dollar index rose 0.23% to 104.93.

Stephen Innes, executive partner of SPI asset management, said that gold caught up with the downward pace as the Federal Reserve accelerated its interest rate hike and the dollar remained strong... But when the economic recession hit, the central bank needed to loosen policy before the gold price could rebound.

The inflation data of the United States in may hit a new high in nearly 40 years, and there is little suspense about pushing the Federal Reserve to raise interest rates sharply again next month. However, the market is indeed forming a view that the worst period of inflation may have passed.

Economists at dominion securities reported: "Despite the increasing possibility of recession, the gold price is still under pressure. In sharp contrast, the recent trend of the gold price shows that the inflow of safe haven funds has supported the gold. In the past month, the gold price is completely out of line with the market pricing of the Fed's interest rate hike. On the contrary, the relationship between the gold price and the US dollar has been strengthened, which indicates that the special flow scale of gold has become smaller. The liquidity of the global market is drying up, and the gold flow has not been spared 。”

From a technical point of view, the 200 day moving average finally fell, further supporting the short-term bearish outlook, and any subsequent rebound will be regarded as a selling opportunity. Nevertheless, some buying near the $1800 mark is worth investors' caution.

On the daily chart, the gold price started a downward ((V)) wave trend from US $1879, and the target of 61.8% is US $1748 in the future. ((V)) wave is the sub wave of downward C wave since US $2070. Wave C belongs to the adjustment (IV) wave started from US $2075.