Overnight Market Review (2022.7.21) On Thursday (20th) in the Asian market, gold futures prices fell to a more than one-year low, and investors expected that the world’s major central banks would raise interest rates to curb soaring inflation.
The Fed is now widely expected to raise interest rates by 75 basis points at its July 26-27 policy meeting. On the other side of the Atlantic, the European Central Bank is set to raise interest rates for the first time since 2011 today, possibly more than previously guided.
In the gold market, COMEX August gold futures closed down $10.50, or 0.61%, at $1,700.20 an ounce, hitting a new low of more than 15 months and approaching the $1,700 mark.
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.