coinmasterbonus| Precious metals market fell, Shanghai gold fell 0.4% and Shanghai silver rose 3.82% and the US dollar index fluctuated within a narrow range
Newsletter summary
The market of precious metals fell back as a wholeCoinmasterbonusLoco-London gold traded at $2417; Iranian President Leahy was killed and a new presidential election will be held on June 28th; Fed officials are cautious about cutting interest rates and markets are optimistic about a rate cut in September.
Text of news flash
[precious metals market shows a downward trend]
Today, the precious metals sector has witnessed an overall decline, with high-level shocks becoming the focus. Loco-London gold is trading around $2420, while London silver has failed to stay above $32, with current prices around 31Coinmasterbonus.7 dollars fluctuate. At the same time, under the influence of the trend of the international market, the main contract of Shanghai Gold closed at 572.22 yuan per gram, down slightly by 0.4%, while the main contract of Shanghai Bank fell rapidly from a new high of 8733 yuan to 8231 yuan / kg, still maintaining an increase of 3.82%.
[dollar index and US bond yields fluctuate slightly]
Market data show that the dollar index remains in a narrow range around 104.5. Similarly, the yield on 10-year Treasuries did not fluctuate significantly, remaining at around 4.43 per cent.
[RMB exchange rate fell slightly]
The RMB exchange rate has weakened slightly, and the trading price is now around 7.236. The central parity rate is down 27 basis points from the previous period and is now trading at 7.1069 yuan.
[geopolitical factors affect the market]
Iranian President Lehi and Foreign Minister Abdullahiyan were killed in a helicopter accident. The vice president will take over the presidency in accordance with the law. The new presidential election is expected to be held on June 28. The incident was attributed to a "technical glitch" by Iran's official news agency.
[Fed officials comment on the outlook for interest rates]
Cleveland Fed President Mestre pointed out that the expectation of three interest rate cuts this year is out of date, saying that she may raise interest rates if necessary, but this is not the main scenario. At the same time, she believes there is reason to believe that neutral interest rates have risen. Jefferson, vice chairman of the Federal Reserve, believes that it is too early to judge whether the trend of slowing inflation continues. Both San Francisco Fed President Daley and Atlanta Fed Chairman Bostick expressed a lack of confidence in the continued decline in inflation. Bostick also mentioned that stable interest rates after the interest rate cut cycle are likely to be higher than in the past decade.
[outlook for Federal Reserve interest rate Policy]
Current market forecasts show that the chances of the Fed keeping interest rates unchanged are as high as 96.4% in June, 76.4% in July, and 49.1% in September.
[market logic analysis]
Expectations for a September Fed rate cut have become more positive due to the recent cooling of US employment, CPI and retail sales data, leading to weakness in the dollar index and US bond yields, providing new momentum for the precious metals market.
[trading strategy recommendations]
In Loco-London gold, investors can keep an eye on resistance around $2450 and keep a wait-and-see attitude, while Loco-London silver needs to focus on a breakthrough of $32.50, which is expected to move closer to $33.60. The main contract of Shanghai Gold can pay attention to the resistance level around 582 yuan, currently it is recommended to wait and see. For the Shanghai Bank main contract, as it has reached the previously mentioned target of 8500 yuan, it is recommended that more than a single timely departure in the early stage, mainly wait and see at present. In addition, in terms of option strategy, it is recommended to adopt the bull market spread strategy, specifically buying AU2408C568 and selling AU2408C584;, buying AG2408C7300 and selling AG2408C7600.
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