Zusammenfassung:Last Friday (September 8), spot gold prices fell slightly to close at $1,918.65 per ounce. Due to the increasing expectations of the Fed tightening policy, US yields have slightly increased, with precious metals falling sharply last week, silver falling 5%, and gold falling nearly 1%.
Market Overview
Last Friday (September 8), spot gold prices fell slightly to close at $1,918.65 per ounce. Due to the increasing expectations of the Fed tightening policy, US yields have slightly increased, with precious metals falling sharply last week, silver falling 5%, and gold falling nearly 1%. The overall strength of international oil prices has been affected by additional production cuts from Saudi Arabia and Russia. During the week, prices once exceeded their highest level since the beginning of this year, and Brent crude oil and domestic market symbols stood at the levels of $90 and ¥700 per barrel, respectively.
U.S. Treasury yields consolidated their weekly gains last Friday. The 2-year U.S. Treasury yielded 4.99%, while the 5-year and 10-year yields were 4.40% and 4.26%, respectively. All three of these Treasury yields of varying maturities posted modest gains, limiting gold's gains on the day.
Investors are eagerly awaiting the upcoming release of the U.S. August Consumer Price Index (CPI) and Retail Sales data this week in order to continue betting on the Fed's next policy decision. Currently, the market is expecting another 25 basis points (bps) rate hike for the rest of the year, but the market is unsure whether the hike will happen in November or December.
MHMarkets strategy is only for reference and not for investment advice. Please carefully read the statement at the end of the text. The following strategy will be updated at 15:00 on September 11, Beijing time.
·Gold XAUUSD· | ||||||
High Probability Scenario | High throw and low suction in the 1892-1903-1919-1931-1945-1951 range | |||||
Low Probability Scenario | Chase up and kill down outside the 1892-1903-1919-1931-1945-1951 range | |||||
·SilverXAGUSD· | ||||||
High Probability Scenario | High throw and low suction in the 21.5-22.3-23.1-23.9-24.5-25.3 range | |||||
Low Probability Scenario | Chase up and kill down outside the 21.5-22.3-23.1-23.9-24.5-25.3 range | |||||
·Crude OilUSOUSD· | ||||||
High Probability Scenario | High throw and low suction in the 80.7-82.3-83.5-85.3-87.3-89.1 range | |||||
Low Probability Scenario | Chase up and kill down outside the 80.7-82.3-83.5-85.3-87.3-89.1 range | |||||
·EURUSD· | ||||||
High Probability Scenario | High throw and low suction in the 1.0570-1.0690-1.0755-1.0830-1.0950 range | |||||
Low Probability Scenario | Chase up and kill down outside the1.0570-1.0690-1.0755-1.0830-1.0950 range | |||||
·GBPUSD· | ||||||
High Probability Scenario | High throw and low suction in the 1.2250-1.2400-1.2470-1.25460-1.26505-1.27000 range | |||||
Low Probability Scenario | Chase up and kill down outside the 1.2250-1.2400-1.2470-1.25460-1.26505-1.27000 range | |||||