CPT MarketsThe Federal Reserve's firm hawkish policy stance has led to narrow fluctuations in gold prices! Within the day...

Gold/dollar (XAUUSD)：

goldAfter a significant decline against the US dollar on Thursday, it fell to1920.52Nearby, as the Federal Reserve announced on Wednesday that it may raise interest rates again later this year, this has driven up the US dollar and US bond yields, and its impact has already been evident in global markets. Except for the United Statesstock market indexfuturesIn addition to generating pressure, it also pushed gold prices sharply lower on Thursday.

In terms of bearish data, gold prices fell on Thursday due to the Fed's firm hawkish policy stance. This policy stance has led to a strengthening of the US dollar and an increase in bond yields, further suppressing the purchase of non yielding gold. In Wednesday's decision, the Federal Reserve decided to keep interest rates unchanged, but also conveyed a signal of interest rate hikes, expected to be raised by a quarter of a percentage point by the end of the year, adjusting the interest rate level to5.50%to5.75%. Meanwhile, the Bank of England, following the example of the Federal Reserve, kept interest rates unchanged on Thursday after a prolonged rate hike, but stated that it did not take the recent decline in inflation for granted. On Thursday, the Norwegian central bank unexpectedly raised its benchmark interest rate and stated that it may12Raise interest rates again on a monthly basis.

In terms of institutional comments on gold prices, Dao Ming SecuritiesTD SecuritiesCommodity strategistRyan McKayThe downward trend of gold has further triggered some liquidation of long positions due to the claims of long-term gains and soft landings. Further pressure may come from systemic funds shifting towards net short positions in the coming days. In addition, Chief of Commodity Strategy at Shengbao BankOle HansenIn a report, traders and investors are seeking hedging if the Federal Reserve fails to achieve a soft landing in the coming months.

In summary, gold prices are being suppressed by the Fed's firm hawkish policy stance; Focus on European and American manufacturing industry in the futurePMIAnd Japan's inflation data.

Press from above(Upper resistance) 1920.50，1922.30； From the downward direction, the lower support1918.80。

CPT MarketsRisk Tips and Disclaimers : The above article content is for reference only and is not intended as future investment advice.CPT Markets The articles published are mainly based on international financial data reports and international news as reference.