Gold market analysis: The Federal Reserve's minutes are hawking, and gold is being pressured and has retreated sharply

Wang Gang of the Guangdong branch of the Bank of China said that the price of gold fell sharply by more than 40 US dollars on Wednesday. The minutes of the Federal Reserve meeting show that the current cautious remarks made by Fed officials have lowered hopes for interest rate cuts, causing the market to worry that higher interest rates for a longer period of time will drag down demand. For this reason, the market has greatly reduced the probability that the Federal Reserve will cut interest rates in summer. Some agencies have given analytical opinions that it is impossible to cut interest rates until the fall or even within the year. As a result, gold's gains have cooled down, and investors have made profits.

FX678 FinanceMay 23 02:29 ET

Gold trading reminder: The minutes of the hawkish Federal Reserve meeting weighed on expectations of interest rate cuts, and the price of gold plummeted by more than $40

The price of gold fell by more than 40 US dollars on Wednesday, hitting a low of 2374.84 US dollars/ounce, closing at 2378.44 US dollars/oz. The minutes of the Federal Bank's last meeting showed that policymakers acknowledged disappointment with recent inflation readings, which helped the US dollar and US bond yields rise, causing gold bulls to make profits and clearly put pressure on the price of gold.

FX678 FinanceMay 22 19:13 ET

Gold trading reminder: Gold prices fluctuate below historical highs, awaiting guidance from the minutes of the Federal Reserve meeting

While the US dollar rose, the price of gold fell slightly on Tuesday, but remained near the record high set on the previous trading day, remaining above 2,400 US dollars, closing at 2420.73 US dollars/ounce, supported by risk aversion and the prospect of the US easing interest rate policy this year. Investors will keep a close eye on the minutes of the Federal Reserve's last policy meeting to be released on Wednesday.

FX678 FinanceMay 21 20:07 ET

CITIC Securities Metal Sector Report: The trend of improving performance is showing optimism about price increases to drive subsequent markets

Since 2024, the metal sector market has mainly been catalyzed by supply disturbances. Prices of commodities such as copper, tin, and tungsten have risen sharply. Furthermore, the safe-haven offline precious metals sector continues to be strong.

Zhitong FinanceMay 21 02:44 ET

Invesco's Kriskey on Copper, Gold Record Highs

Invesco Senior Commodities ETF Strategist Kathy Kriskey discusses gold and copper hitting record highs and says commodities are the answer in times of uncertainty. She speaks with Eric Balchunas and Scarlet Fu on "ETF IQ."

moomoo NewsMay 20 19:54 ET

Can I still buy money now? UBS conducted in-depth research on China's gold market

UBS pointed out that the Chinese market sentiment tends to buy when the price of gold recovers. As a result, future investors may be more likely to react flexibly to the price and be willing to buy at a decline of around $2,250 per ounce.

wallstreetcnMay 20 07:49 ET