Overnight Market Review (2022.8.3) On Wednesday (August 3), Beijing time in early Asian trading, the U.S. dollar index traded around 106.34. On Tuesday, the U.S. dollar rose nearly 1%, boosted by Fed officials’ firm remarks on raising interest rates. It once fell to a low of nearly a month; benefiting from the escalation of geopolitical tensions, the price of gold once approached a monthly high of $1,788 per ounce. With the rise in the dollar and U.S. bond yields, gold fell by nearly $30; investors waited for the OPEC+ meeting, sources A modest increase in production will be discussed, he said.
Gold prices hit about a one-month high on Tuesday, as geopolitical tensions and fears of a possible U.S. recession bolstered the metal’s safe-haven appeal. The data showed that expectations for a slower pace of interest rate hikes and a significant slowdown in the U.S. economy have greatly supported gold, while geopolitical tensions are another factor supporting gold.
Trading strategy deployment: it is recommended to do more at low levels
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