Gold market analysis: Gold price fell instead of rising due to an unexpected decrease in U.S. PPI.

Bank of China's Guangdong branch manager Wang Gang stated in May that US producer prices unexpectedly fell. Combined with the weak CPI data released on Wednesday, it indicates that US inflation has eased somewhat after soaring in the first quarter. However, gold this week has not been able to recover under the influence of bullish data and instead has turned downwards, indicating that the pressure to take profits is still heavy. Influenced by the hawkish attitude of the Federal Reserve, the US dollar remained strong on Thursday, and gold also failed to break away from the trend of profit-taking adjustment.

FX678 FinanceJun 14 01:04 ET

Gold Market Analysis: US CPI continues to cool down, gold prices rise but cool off afterwards.

Wang Gang, Bank of China's Guangdong Branch, stated that on Wednesday, the US inflation rate slowed down, stimulating gold prices to surge nearly $30 to $2,341.51 per ounce. Later, the Fed's dot plot diagram showed that it will only cut interest rates once this year, and Powell did not give any new hints about relaxing policies. The Fed's decision-makers have always maintained an ambiguous or even hawkish attitude towards interest rate cuts, which has somewhat disappointed gold investors. The joyful mood brought about by the originally declining inflation rate has also been greatly discounted.

FX678 FinanceJun 13 02:00 ET

Gold trading reminder: Will the CPI data make the bulls excited, while Powell's dovishness falls short of expectations, leaving opportunities for bears? Institutions summarize their comments.

On Wednesday, the rise in gold prices was blocked. In the morning, due to the May CPI data showing a slowdown in US inflation, gold prices surged nearly $30 to $2,341.51 per ounce. However, the Fed kept interest rates unchanged in a decision, suggesting that there will only be one rate cut this year. Fed Chairman Powell's speech was also less dovish than expected, and gold prices gave back most of their gains, closing at $2,324.71 per ounce, up about 0.35%.

FX678 FinanceJun 12 19:51 ET

Gold Price Stays Firm as Fed Holds Rates and Tilts Hawkish

Gold trades at $2,318, up 0.13%, supported by lower-than-expected US inflation and falling Treasury yields. as Fed holds rates steady.

FXStreetJun 12 14:17 ET

World Gold Council: Global central bank gold purchases rebounded in April, with healthy demand.

As of 2024, global central bank demand for gold remains healthy.

Zhitong FinanceJun 12 08:08 ET

Gold Market Analysis: The Federal Reserve's interest rate meeting is imminent and the price of gold is temporarily stable at $2,300.

Bank of China's Wang Gang said that investors are cautious about the Fed's meeting. If Fed policymakers seem to take a hawkish stance and overturn market expectations for a rate cut in November, this could support the dollar and suppress metal prices, and vice versa. If the dot plot is raised and the expected number of rate cuts in the near future is reduced, it could support the dollar and put pressure on metal prices, and vice versa. Another obstacle that gold faces may be the adjustment pressure of the US CPI in May, which is still difficult to relieve.

FX678 FinanceJun 12 01:36 ET