There is still no consensus in the negotiations between Russia and Ukraine, and the US inflation rate in February hit another 40-year record, driving gold futures back to 2,000 per ounce on Thursday (10th). Dollar。
- Gold futures for April delivery rose 12.20 Dollaror 0.6% at 2000.40 an ounce Dollar。
- The futures closed at 2043.30 on Tuesday Dollaris a 19-month high from 2069.40 climbed on August 6, 2020 DollarThe all-time high is not far off.
Gold has mostly rallied since Russia invaded Ukraine, with analysts expecting central banks to slow the pace of interest rate hikes.
Naeem Aslam, chief market analyst at AvaTrade, said that gold has excellent momentum, and traders are not sure if they are ready to re-invest in risk assets, thus driving gold prices higher.
He said that geopolitical risks do not appear to dissipate in the short term, indicating that there is still room for gold prices to rise, and it is reasonable to predict that gold prices will rise to 2,500 per ounce in the next few months. Dollar。
The United States announced on Thursday that the consumer price index (CPI) rose 7.9% in February, the largest increase since January 1982, and also rose 0.8% compared with January.
Patrick Fruzzetti, executive director of Rose Advisors, said that while the CPI data provided more support for gold, it was not the only reason. In his view, gold is more of a target for gold.DollarA depreciating hedging tool.
AvaTrade’s Aslam sees inflation data as a “double-edged sword” for gold, arguing that while high inflation makes it more attractive to traders and investors, it also raises the prospect of a more aggressive Fed tightening monetary policy. chance.
The European Central Bank (ECB) on Thursday decided to hold the three major interest rates on hold, but announced an early exit from quantitative easing (QE). ECB President Lagarde told meeting that Russia’s invasion of UkraineEUR“negative impact” on the regional economy.
The Fed will meet next week. Jeff Wright, chief investment officer of Wolfpack Capital, said that U.S. inflation has clearly not peaked. , would mean that the U.S. economic slowdown is far worse than officials thought, and would send markets into a panic.
Other Metal Commodities Trading
- Silver futures for May delivery gained 44 cents, or 1.7%, to settle at 25.256 an ounce Dollar。
- Copper futures for May delivery rose nearly 1.8% to settle at 4.653 a pound Dollar。
- Platinum futures for April delivery fell 1.1% to settle at 1095.20 an ounce Dollar。
- Palladium futures for June delivery fell 1% to settle at 2920.50 an ounce Dollar。
