CPT MarketsThe market is betting on the Federal Reserve's interest rate cut to protect gold prices! Take you through a full article202...

gold/dollar (XAUUSD)：

After a significant increase in the closing price of gold against the US dollar last Friday, it closed in consolidation2053.32Nearby, the market generally expects inflation data to further confirm the relevant2024The bet of annual interest rate cuts has given gold prices room for growth.

2022In the fourth quarter of the year, the market began preparing for the Federal Reserve to stop raising interest rates, when gold prices were at1650dollar/Trading around ounces. Due to the market's desire to seize the opportunity before the policy shift, the price of gold has increased2022There was a strong rebound in the fourth quarter of the year. The upward trend continued until this year5Month. from5From the beginning of the month to10At the beginning of the month, the price of gold appeared for a period of time5A month long pullback. This trend is largely driven by the strength of the US dollar. For most of the summer, the market is preparing for the possibility of further interest rate hikes by the Federal Reserve, as investors buy the US dollar and sell gold. As the possibility of further interest rate hikes begins to decline, the situation begins to change. enter10During the month, gold was in a severe oversold state, and the daily relative strength index even fell to20Below. Past20Over the years, similar events have rarely occurred. Eventually, gold began to gradually show upward mobility. In addition, the changes in geopolitical tensions in the Middle East have triggered a sustained bullish mentality. In less than two months, the spot gold price has increased compared to last year10The monthly low has risen18.56%, setting a new historical high. stay12On the first Sunday of the month, the gold market opened with violent fluctuations. After the interest rate was determined, gold saw a bullish trend again, and the price of gold rose to2000dollar/Above ounces. Powell talked about the prospect of interest rate hikes and the possibility of interest rate cuts next year, which excited the bulls. As the US dollar suffered a heavy blow, the market reaction was quite evident, which helped boost risky assets including gold.

In summary, the United States11OfPCEThe data further supports market expectations for the Federal Reserve's interest rate cut. However, the market needs to be aware that these data may have limited impact on financial assets, as the expectation of interest rate cuts has been fully digested by the market. In the face of global economic uncertainty, safe haven assets such as gold may continue to be favored by the market.

Press from above(Upper resistance) 2053.30，2055.50； From the downward direction, the lower support2051.80。

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.