Overnight Market Review (2022.11.04) Although gold prices fell due to Fed Chairman Powell’s hawkish stance, next year’s gold price trend will be determined by gains.
Gold and silver prices are expected to rise from their current levels of $1,630 and $18 an ounce to $1,700 and $19.5 an ounce by the end of 2023. “
After the Federal Reserve raised interest rates for the fourth time by 75 basis points on Wednesday, its mixed message confused markets. In its statement, the Fed said it would now consider “cumulative tightening” of monetary policy, as well as the lag with which monetary policy affects economic activity and inflation.
Meanwhile, Powell then said the “eventual level” of interest rates could be higher than previously expected, while also saying the window for a soft landing had “shrinked.”
However, the Fed’s hawkish stance is expected to persist for too long.
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.