On August 29, following remarks by Federal Reserve Chairman Walsh aimed at curbing inflation pressures, market bets on a Fed interest rate hike significantly increased, leading to a stronger dollar and a sharp decline in prices of precious metals like gold. As of the time of writing, spot gold had fallen 2.6% for the day, dropping over $120 to $4480 per ounce, with an intraday low of $4464, marking a one-week low. Independent analyst Tai Wong noted, 'Chairman Walsh clearly stated that inflation has not shown substantial signs of slowing and emphasized that the Fed 'still has work to do,' which triggered a severe sell-off in the gold market. Although this may still be a communication strategy of 'much ado about nothing,' it is enough for the market to view the September meeting as a standoff with equal odds for a rate hike and a pause.' Walsh's remarks are his closest acknowledgment to date that further rate hikes may be necessary to alleviate price pressures. He indicated that if policymakers cannot be confident that core inflation is steadily returning to the 2% target level, the Fed 'still has work to do.' In response, traders quickly increased their bets on a rate hike in September. In other precious metals, spot silver fell 3.63% to $66.77 per ounce; spot platinum reversed from gains to a decline of 0.27%, settling at $1841.9; while spot palladium saw its gains narrow to 5.05%, priced at $1418.3.
看漲看跌按讚分享
免責聲明：以上內容不代表 HTX 的任何立場，HTX 不為任何交易提供相關決策建議。
相關文章
Strategy turns 1,690 BTC into $108.6M STRC buyback
全部評論0最新熱門
最新熱門
熱門話題
相關文章
Strategy turns 1,690 BTC into $108.6M STRC buyback
全部評論0最新熱門