Chloe_Wang

Chloe_Wang

Fundamental analysis: Spot gold price fell on Wednesday and closed at US$1803.66 per ounce; rising U.S. bond yields and the continued rebound in the stock market weakened the demand for safe-haven; a series of corporate earnings reports shifted the market’s attention to the economic impact of the COVID-19 and boosted the US stock market; 10-year period U.S....

Chloe_Wang

Fundamental analysis: Spot gold price fell slightly, the intraday trend was volatile, and the US dollar strengthened, inhibiting the inflow of funds into safe-haven gold, although some people are worried about the rapid increase of covid-19 cases. Spot gold erased its intraday gains and closed at $1810.36 per ounce in late trading, marking its second decline in...

Chloe_Wang

Fundamental analysis In the past week, spot gold price fell from highs. The Chairman of the Federal Reserve has repeatedly made dovish remarks and increasing cases of COVID-19 from multiple countries helped gold price hit a new one-month high of US$1834.12 per ounce. Retail investors and institutions are also bullish about the marker look. However, the great...

Chloe_Wang

Fundamental analysis: Fed Chairman Powell dispelled expectations that the Fed will soon reduce asset purchases, and reiterated that any surge in inflation may ease. Boosted by Powell's dovish speech, spot gold price rose sharply, hitting $1,929.85 per ounce during the session, the highest level since June 16. Spot gold rose by more than US$20 to close at...

Chloe_Wang

Fundamental analysis Gold prices were basically with little fluctuation on Tuesday, at $1806.28 per ounce in late trading, as the strengthening of the U.S. dollar offset the support from bets that the Fed is unlikely to tighten monetary policy immediately. Last month, the US Consumer Price Index (CPI) recorded its biggest increase in 13 years. The US CPI rose...

Chloe_Wang

Fundamental analysis On 8 July (Thursday), the US dollar fell from a 3-month high. Commodity-related currencies fell the most, and lower US treasury yield also dragged down the US dollar. Gold futures fell for the first time in seven days. Some market strategists believe that the sharp decline in European and American stock markets may cause some investors to...

Chloe_Wang

Fundamental analysis: Gold price rose slightly and closed around 1802 yesterday. The 10-year US treasury yield fell for the seventh consecutive day, hitting a low point in more than four months, which boosts the interest-free asset – gold. Some analysts believe that the weakness of US treasury yields has pushed up gold price because meeting records are basically...

Chloe_Wang

Fundamental Analysis: As the US dollar strengthened, spot gold price fell back and closed at around 1797 in late trading. The intraday peak hit 1815.05, the highest level since 17 June. Investors paid attention to the minutes of the Fed’s latest policy meeting to judge interest rate trends. Some analysts said that in the past few days, we have seen that central...

Chloe_Wang

Fundamental analysis Spot gold price rose more than 10 US dollars last Friday, closed at $1780.40 per ounce. It once touched US$1795.17 during the trading day, which was the highest level since June 18; because US dollar fell after the release of US non-farm employment data, some analysts said that the data will give Fed more time to maintain its policy stance....

Chloe_Wang

Fundamental analysis On 30 June (Wednesday), the US dollar index rose to a high of more than two and a half months, as global concerns about highly infectious strains of the new coronavirus have increased, boosting demand for US dollars. After the Fed advanced its interest rate hike expectations, gold prices fell sharply, and spot gold price fell more than 7%...

Chloe_Wang

Fundamental analysis On Tuesday (29 June), the US dollar reached its largest one-day increase for the past two weeks. Market is worried that the new mutant virus may derail the global recovery. Spot gold price fell nearly 1% to close at around US$1761, the lowest level since mid-April. The rising US Treasury yields and the strengthening of the US dollar put...

Chloe_Wang

Fundamental Analysis: Last week, due to different opinions of Fed officials, gold price fell into shock. The mutated virus pandemic has increased the demand for safe-haven gold, but Biden and the two parties have reached an agreement on a reduced infrastructure plan, putting pressure on gold price. This week would have lots of significant data, the most...

Chloe_Wang

Fundamental analysis On 20 May Asian session, spot gold price rose slightly, trading around 1873. On 19 May, the minutes of the Fed’s April meeting showed that Fed officials talked about reducing bond purchases and hinted that they would start discussing quantitative easing. This news on fundamental side slammed the gold price. It fell again at a high level. In...

Chloe_Wang

Fundamental analysis On 15 May, the U.S. dollar index fell slightly by 0.14%, as the US regional manufacturing survey showed that target prices hit record highs, aggravating fears, benefiting risk-return currencies. The depreciation of the U.S. dollars supports a sharp rise in gold prices. Efforts of further reopening the economy, as well as U.S. housing and...

Chloe_Wang

Fundamental Analysis: On the 14th of May, as a result of falling US bond yields, the US dollar fell sharply. With previous data showing US retail sales plateauing mid-April as well as the concerns on the prospects of accelerated inflation waning, Gold has nevertheless continued its continual growth for six weeks. Indeed, the decline in the yield of the US Dollar...

Chloe_Wang

Fundamental Analysis On 13 May, the U.S. dollar fluctuated slightly and stayed near this week’s high. The market weighed the risks of economic reopening and lasting longer. The increase in U.S. 10-year treasury yields put pressure on the U.S. dollar index, and the U.S. index fell back after reaching the resistance level. Tai Wong, Head of Metal Derivatives...

Chloe_Wang

Fundamental Analysis On 12 May, the U.S. dollar index climbed 0.7%, it is the largest increase since 30 April; data showed that this rise of US inflation had the greatest increase since September 2018, that is, the U.S. Consumer Price Index (CPI) rose 0.8% month-on-month in April. This news drove the increase of US Treasury bond yields and the U.S. dollar. As...

Chloe_Wang

Fundamental Analysis May 11, in European market, gold price rose to the highest level over the past three months. U.S. employment data was upset and far less than expected, which has provided a basis for the Fed to maintain expansionary monetary policy. The U.S dollar index stabilized at 90 after falling continuously and fell 0.2% to its lowest point since 25...