On July 19th, the main contract of Shanghai Bank fluctuated higher, with an intraday increase of more than 2%. The analysis of Shenyin Wanguo Futures pointed out that the current rebound in precious metals is driven by the cooling of employment data and the fall in inflation.
The market logic presents the logic of “stop raising interest rates after raising interest rates in July + U.S. economic resilience + maintain high interest rates + wait for more evidence of job market cooling and inflation fall”.
However, when it is difficult to reach the threshold of interest rate cuts in the short term, the overall market outlook is still biased towards wide fluctuations, and the fluctuation range of the AG2312 contract is 5600-6000. The fluctuation range of the AU2312 contract is 445-460.
