Overnight Market Review (2022.7.1) Gold futures fell below the $1,800 mark at midday in Asian markets on Friday. Although yesterday’s data showed that the Fed’s favorite inflation indicator has cooled, it may be difficult to change the Fed’s decision to tighten policy and inflation will cool. It also weakened gold’s anti-inflationary demand.
Global gold market: Gold prices fell on Wednesday, and the intraday trading was volatile. It was tugged by two forces. On the one hand, it was the resistance caused by aggressive interest rate hikes, and on the other hand, it was helped by the safe-haven buying driven by the increased risk of economic recession. Gold futures were down 0.2% at $1,817.50 an ounce.
U.S. stock futures edged lower in premarket trading on Friday, as recession fears dampened investor sentiment after Meta CEO Zucker Burke warned about the economic outlook and memory chip maker Micron was also less optimistic about future demand for its products.
Trading strategy deployment: it is recommended to do more at low 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.
