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Before the minutes were announced, the New York Mercantile Exchange The price of gold futures for delivery in the month fell by .USD to close at .USD/oz, a decrease of .%. After the minutes were released, gold futures prices first continued the downward trend in regular trading in electronic trading, and then rose back above the closing price. Half an hour after the minutes were released, the price of gold was quoted at .USD/oz. The futures price for January delivery fell by . cents to close at . US dollars per ounce, a decrease of .%. In the subsequent electronic trading, it rebounded to . US dollars per ounce.
Federal Reserve minutes showed that Fed executives were less concerned about the economy at their monthly monetary policy meeting, but were divided on whether that meant they should quickly restart raising benchmark interest rates. Higher interest rates from the Fed could make gold less attractive to investors because gold is a non-interest-paying asset. Haworth, senior investment strategist at Bank of America Wealth Management, said that in the end, although the Fed is obviously facing internal pressure to raise interest rates, it still maintains a cautious stance on the issue of raising interest rates. In our view, this record is unlikely to be enough to push gold prices to new highs. Manufacturing survey reports are showing an improving trend and consumer survey data are also solid. We believe this means that the U.S. economy is in the process of repair, which should give the Federal Reserve room to raise interest rates, thereby limiting the price of gold. Upward momentum.
In addition, the ICE U.S. Dollar Index, which tracks the U.S. dollar against six major international currencies, rose for most of Wednesday's trading, but turned negative after the Federal Reserve released meeting minutes. Provided some support for gold prices.
On the daily line, the Bollinger Bands are running flat, and the short-term moving averages are running together. The silver price is running below the multiple moving averages and is obviously suppressed. The green kinetic energy of the indicator has shrunk. Looking at the daily trend, it has closed a low cross The star indicator diverges upward, the green kinetic energy of the indicator shrinks, and the speed line is formed below the zero axis. If there is a demand for rebound, pay attention to the pressure at the juncture of the middle rail of the Bollinger Bands and the moving average. In the hourly view, the silver price has achieved a reversal, and is bullish at first.
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