Market performance
Precious metals market performance
Market review
Last week, the US Q1 GDP exceeded expectations, the number of initial jobless claims came in lower than expected, the May PCE data was flat with expectations, the fundamental data was generally strong, and the inflation data remained stable. In the first debate of the U.S. election, Republican candidate Donald Trump has the upper hand. Gold prices remained range-bound.
Outlook for the market
The U.S. dollar index and U.S. Treasury yields remained strong in the third quarter, which was not conducive to the performance of gold prices, and the decline in long-term Chinese bond interest rates supported gold prices. However, the main problem of gold prices at present is that the position differentiation is too high, non-commercial bulls are unwilling to reduce their positions, and non-commercial shorts are not willing to short positions continue to decline. Until then, gold prices cannot be ruled out to continue to fluctuate.
London Gold
Shanghai Gold
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