US data strengthens the golden dilemma in the geopolitical situation

The data shows that the US economic growth has once again gained momentum, which has affected the tension in Ukraine and Gaza. Spot gold on Wednesday (July 30) Asia-European intraday consolidation fell overnight, gold prices held steady at 1300 levels Below, the minimum touch is $1,297.30 per ounce.

Gold fell below the thousand-third mark overnight, refreshing a one-week low of $1,293.20 per ounce. Spot gold has fallen 2.1% this month, in part because the US interest rate outlook is higher and the S&P 500 index has climbed to a record high.

How to make money expert free guide bank gold and silver TD account opening guide bank gold and silver simulation trading software set gold number desktop quotes tool Federal Open Market Committee (FOMC) will announce the July interest rate resolution in the early hours of Thursday, the market expects the Federal Reserve (FED) will For the sixth time in a row, it announced the reduction of debt purchases. The US Conference Board Consumer Confidence Index, released on Tuesday, rose to a nearly seven-year high. Yellen said at the hearing this month that if the labor market improves faster than expected, the rate hike may come earlier than expected.

Morgan Stanley analyst Joel Crane said in a report on Wednesday that "the interest of gold investors is weakening, and the returns of other assets such as stocks are more abundant. We believe that gold investment interest may remain relatively volatile because of geopolitics. At the same time of instability, the consensus of the time when the United States entered the interest rate hike cycle expanded."

Gold rose 8.20% this year, in part because the geopolitical situation in Ukraine and the Middle East has boosted demand for safe havens. The United States and the European Union have escalated sanctions against Russia. Israel has stepped up its bombing of the Gaza Strip, and Hamas’ armed leaders have ruled out the possibility of a ceasefire in Gaza.

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