Daily discussing gold | The Federal Reserve ’s interest rate hike rhythm slows down, and the price of gold is strong.

The international gold price opened this week at $ 1727/ounce, rushed to a maximum of $ 1757/ounce, and the lowest exploration to $ 1711/ounce. The gold price launched a strong attack this week.

In terms of fundamental perspective, the Federal Reserve's interest rate hikes raised interest rate hikes at two o'clock in the early morning of this Thursday, which did not exceed market expectations. After the interest rate hikes were released, the golden short profit was reached, and the gold bulls got gasp for gas. With the decline of the US dollar index, global commodities ushered in a rebound, including domestic products ushered in a strong rebound, showing that the market relieves the Fed's expected expectations of a sharp interest rate hike. Due to the recent weak economic data in the United States, the Fed is among the dilemma of controlling high inflation and maintaining economic operation. Under weak economic data, the market expects to continue to raise a significant interest rate hike is low, and the price of gold has recently ushered in a counterattack.

It should be noted that the strong rise of gold prices does not mean that the market reverses. The Federal Reserve policy is in high inflation and weak economy. The goal of US monetary policy is to develop economy on the basis of controlling inflation. At present, the high inflation and the slowdown in economic growth indicate that the marginal effects of the US monetary policy have gradually decreased, and even a negative effect has occurred. It can no longer effectively promote the healthy growth of the real economy. Therefore, recycling liquidity has become an inevitable option.

At present, there are still abundant liquidity in the United States. There are two main reasons for the core inflation in this round of core inflation. One is loose liquidity, and the other is the global supply chain problem, including fragile energy supply chain and the supply chain of goods. From the current point of view, it takes time to ease, so measures to control inflation are the Fed's tightening monetary policy. The most important thing in the rise of gold prices is the passive rise caused by profit -making, not the active intervention of funds, so the height of the rebound will be limited.

In terms of crude oil, the US Petroleum Association data shows that crude oil inventory is decreasing, resulting in a major attack on crude oil prices. In the context of the weak global economy and the large selling crude oil strategic reserves in the United States, crude oil prices still face large pressure.

Judging from the Gold ETF positions, ETF has a total position of 1005.29 tons, 0.58 tons reduction on July 25, and a total of 0.58 tons this week. From the perspective of the early period of positions, the ETF -cutting time has a longer duration. Blind.

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