Core Viewpoint - The Federal Reserve's preventive interest rate cut was less dovish than expected, leading to a pullback in gold prices, although market expectations for further rate cuts this year continue to support gold prices [1][3] Group 1: Federal Reserve Actions - The Federal Reserve cut interest rates by 25 basis points and indicated two more cuts totaling 50 basis points for the year [1] - The Fed removed the statement regarding a robust labor market and acknowledged rising risks to employment, admitting to an economic slowdown and soft consumer spending [1] - The Fed's future rate path will depend on economic data, indicating a shift towards prioritizing employment over inflation [1] Group 2: Gold Price Movements - Gold prices reached a historical high but faced pressure and declined, with a significant drop of nearly $40 from $3670 to a low of $3628 [1] - Current support levels for gold are at $3652, $3633, and $3600, while resistance levels are at $3674 and $3700 [1][3] - Despite the recent pullback, gold remains above $3600, indicating that the overall upward trend has not been compromised [1] Group 3: Technical Analysis - Short-term technical indicators suggest a need for adjustment after consecutive price increases, aligning with the current high-level fluctuations in gold prices [3] - The 5-day moving average is showing signs of slowing, and MACD indicators are turning down, indicating potential short-term weakness [3] - The market is advised to adopt a range-bound trading strategy, focusing on key support and resistance levels [3]
黄力晨:美联储鸽派不及预期 黄金保持高位震荡
Sou Hu Cai Jing·2025-09-19 10:57