Core Viewpoint - The recent Federal Reserve meeting minutes indicate a strong opposition to further interest rate cuts, emphasizing the need to combat persistent inflation, which has led to a significant impact on gold prices and market expectations [3][4]. Fundamental Analysis - Gold prices have been declining, currently trading around $4,056 after a brief spike to $4,132.66, influenced by a stronger dollar and hawkish Fed meeting minutes [1]. - The minutes revealed a split among Fed members, with many opposing a December rate cut, fearing it could entrench inflation expectations and undermine confidence in the 2% inflation target [3]. - The dollar index surged by 0.59% to a two-week high of 100.24, while U.S. Treasury yields also rose, further pressuring gold prices as higher real interest rates diminish gold's appeal as a non-yielding asset [3]. - The probability of a 25 basis point rate cut in December dropped from 48% to 32.8%, indicating a market shift away from expectations of imminent rate cuts [3]. Technical Analysis - On the daily chart, gold recorded a long upper shadow, closing below the $4,100 mark, suggesting potential resistance and a possible return to test the $4,000 level [6]. - Short-term movements show a retreat from a high of $4,245, with the market currently in a consolidation phase around the $4,000 level [6]. Trading Strategy - Aggressive traders may consider short positions below $4,100 with a stop loss at $4,113, targeting support levels around $4,030 to $4,000 [7].
金荣中国:现货黄金回吐盘中反弹空间,目前暂交投于4056美元附近
Sou Hu Cai Jing·2025-11-20 07:25