Overnight Market Review (2022.6.9) On Tuesday, the market’s expectation that U.S. inflation has peaked increased, U.S. stocks rebounded, long-term U.S. bond yields fell, the dollar fell, and gold and crude oil rose.
Global gold markets: Gold prices rose on Tuesday as the dollar gave up some of its gains, with gold futures closing up 0.5% at $1,852.10.
Gold prices edged lower in midday Asian markets on Wednesday, as investors waited for the U.S. consumer price index (CPI) to be released later this week for more clues on interest rate hikes. U.S. Treasury Secretary Janet Yellen said on Tuesday that inflation is likely to remain elevated and that the Biden administration could raise its forecast for inflation to 4.7 percent this year in its budget proposal.
Yellen also warned that gold transactions involving Russia could be subject to sanctions and that any efforts to use gold to circumvent U.S. sanctions would be closely monitored.
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.
