Overnight Market Review (2022.10.7) During the Asian session on Friday (October 7), spot gold fluctuated slightly and was currently trading around US$1,710/oz. Overnight, Fed officials reiterated their determination to further raise interest rates to control inflation.
Helping the dollar and U.S. Treasury yields rise, gold bulls are wary of investors betting that the upcoming U.S. nonfarm payrolls report will remain strong. Although the non-agricultural data is close to the announcement, the market has a strong wait-and-see mood, and the price of gold has a limited decline for the time being.
But fundamental conditions put gold at risk of a resumption of the downtrend.
Trading strategy deployment: it is recommended to go short at high levels
All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.