On June 12, Everbright Futures analyzed that from the perspective of the probability of raising interest rates, the suspension of interest rate hikes in June is still a high probability event, and the probability of raising interest rates in July has risen to more than 50%.
For the gold market, the interest rate hike in June is bullish, which means the real end of the current cycle of interest rate hikes; otherwise, the market will be entangled in whether to raise interest rates in July.
The Federal Reserve’s meeting on interest rates (results announced at 2:00 a.m. on Thursday) will finally come to fruition. Investors must pay attention to the performance of the three trading days before and after the rate hike to guide the direction of gold price trading in the next step, but before that, it is better to wait and see.
Finally, from the perspective of the disk, the price of gold is still competing near the 60-day moving average, and has not escaped from the danger zone. There is a risk of continued downward correction, or the trend is not clear.
