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

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

Gold market analysis: Weakness in the US economy helped gold rise sharply to a pre-test high

Bank of China Guangdong branch Wang Gang said that high inflation, high interest rates, rising household debt, and depleted pandemic savings are all expected to continue to drag down the US economy in 2024. Furthermore, data reflecting inflation, such as CPI and retail sales, released by the US last week have all eased markedly, once again raising the market's expectations that the Federal Reserve will speed up the pace of interest rate cuts this year. To this end, gold also responded positively to the view that US inflation may be under control and that the US hopes of cutting interest rates will be revived.

FX678 FinanceMay 20 01:20 ET

Iran State TV: "No Sign of Life" in President Raisi's Helicopter Wreck

By Laurence Norman, Benoit Faucon and Aresu Eqbali A helicopter carrying President Ebrahim Raisi of Iran crashed in the northwestern part of the country, the interior minister said Sunday, sparking a

WSJMay 19 23:35 ET