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
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.
