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The market is not optimistic about the Sino-US meeting, Gold prices are still supported

The market is not optimistic about the Sino-US meeting
After the postponement of the meeting of China and the US trade representatives to assess the implementation of the first phase of the trade agreement, the market is paying attention to the date of the next round of assessment meeting. However, US President Trump said during his earlier visit to Arizona and Iowa that he did not want to discuss matters with China for the time being, but he also praised China for buying American agricultural products at record prices. In addition, the White House chief of staff Meadows and trade negotiator Lighthizer also saw differences in remarks on the reopening of the meeting, which made the market not optimistic about the expectation of the reopening of the meeting in the short term.

Gold prices are still supported
The Fed’s dovish expectations and the overcrowding of short U.S. dollar positions have left the U.S. dollar room for further rebound in a short time. However, the Fed’s continued easing expectations and the weak recovery of the U.S. economy have restricted U.S. dollar growth, which will continue to support gold prices. Taking into account the uncertainty of the general election, the Fed's clear interest rate path may not be announced until after November, so the market needs to pay attention to whether the Fed will continue to expand the scale of its balance sheet.


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