Overnight Market Review (2022.8.19) High inflation will push gold prices above $2,000
Gold is expected to rebound to above $2,000 next year due to high inflation, the Australian gold mining giant said.
Data shows: The latest Fed minutes show that the Fed may at some point slow the pace of interest rate hikes, which means inflation may stay at higher levels for a long time. “It’s good for gold.”
Entering 2022, global central banks including the Federal Reserve have rapidly tightened monetary policy, and gold, a traditional safe-haven asset, has only fallen by 4%, while the S&P 500 has fallen by 10% in the same period.
On Thursday, the company aimed to boost gold production to 720,000 ounces in fiscal 2023 and another 11% in the next quarter.
Currently, the spot price of gold is at $1,765.
Trading strategy deployment: it is recommended to go short at high levels
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