The annual meeting of global central banks will be held this Thursday, Gold prices continue to be supported
The annual meeting of global central banks will be held this Thursday
The focus of the market this week is believed to be inseparable from the annual meeting of global central banks (Jackson Hole) on Thursday. Fed Chairman Powell will speak first on Thursday. The market is concerned about how the Fed's printing of money due to the epidemic will affect future inflation. Since this is the first time Powell has spoken in public since the Fed's interest rate meeting at the end of July, the market has been paying attention to how Powell will view the latest economic situation in the United States after about a month.
Gold prices continue to be supported
The recent trend of gold is mainly affected by the U.S. dollar. Prior to this, the U.S. dollar fell to a low in more than two years, which once pushed gold to $2075. But as the dollar stabilized, gold fell sharply. In general, the fundamentals of gold are generally good, which will continue to support gold prices. Analysts have polarized the short-term trend of gold. However, analysts generally believe that if gold confirms the 1920-1900 support, gold is expected to continue to rise, otherwise there is a possibility of further correction if it falls below this range.
---------------------------------------------------------------
Z. com Bullion is an affiliate of GMO Financial Holdings, Inc., a Japanese listed group. The risk of loss in leveraged foreign exchange trading & margin trading can be substantial. Visit the company website to read full risk warning. https://bullion.z.com/en/about/legal/risk/
The focus of the market this week is believed to be inseparable from the annual meeting of global central banks (Jackson Hole) on Thursday. Fed Chairman Powell will speak first on Thursday. The market is concerned about how the Fed's printing of money due to the epidemic will affect future inflation. Since this is the first time Powell has spoken in public since the Fed's interest rate meeting at the end of July, the market has been paying attention to how Powell will view the latest economic situation in the United States after about a month.
Gold prices continue to be supported
The recent trend of gold is mainly affected by the U.S. dollar. Prior to this, the U.S. dollar fell to a low in more than two years, which once pushed gold to $2075. But as the dollar stabilized, gold fell sharply. In general, the fundamentals of gold are generally good, which will continue to support gold prices. Analysts have polarized the short-term trend of gold. However, analysts generally believe that if gold confirms the 1920-1900 support, gold is expected to continue to rise, otherwise there is a possibility of further correction if it falls below this range.
---------------------------------------------------------------
Z. com Bullion is an affiliate of GMO Financial Holdings, Inc., a Japanese listed group. The risk of loss in leveraged foreign exchange trading & margin trading can be substantial. Visit the company website to read full risk warning. https://bullion.z.com/en/about/legal/risk/
