Unexpectedly, before the Dragon Boat Festival, gold plunged sharply, and the global gold price performed a roller coaster, can you still buy gold? Next, can gold still be bought? Or should you sell your gold?
The data is indeed worrying: a number of fund sources said that the latest non-farm payrolls data in the United States exceeded expectations, making the dollar index soar, delaying the Fed's interest rate cut expectations, and the global central bank's slowdown in the pace of buying gold, especially the domestic central bank did not increase its holdings of gold in May, which may lead to a decline in demand for gold as a safe-haven asset, but still bullish on the future trend of gold, but the current price has no investment value, and there are still opportunities for short-term trading; It is not advisable to blindly chase the rise.
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At this stage, the price of gold is very affected by the Fed's interest rate policy, although it is not yet certain that the time window for the Fed to cut interest rates, but once the Fed suddenly cuts interest rates in the future, it is likely to have a stormy impact on gold prices.
Because the first rate hike is often a turning point, it means a turning point in a long-term trend; Therefore, at present, gold prices have entered a high sideways shock, and even constitute a top stage, so we should try to avoid this shock. In addition, the gold price broke through the historic mark of $2,100 per ounce, and there is also confirmation of a pullback to this area; Therefore, it is necessary to wait for further Fed policy clarity before considering whether to follow up.
