Silver prices continued to rebound after a deep drop overnight, and are waiting for opportunities at the level of $26.12. The Fed pointed out that the economy has made progress. Although it has not yet made substantial progress, it implies a signal for potential reduction in debt purchases and releases dovish arguments to provide support. The market effect fermented by the doves can already be seen in the U.S. bond yields, which continue to show a weak downward trend, helping to boost the upside of the precious metals complex. TD Securities reported that there is still room for precious metal prices to rise again. The bank believes that inflation will only be short-lived, and the market has interpreted the Fed’s position as excessively hawkish, gaining support from the bottom of the gold price last week, and From the perspective of the rebound, the mid- to long-term upward trend of gold is still expected to be maintained.
The U.S. Federal Reserve released the minutes of its June interest meeting those members generally believed that the threshold for starting to reduce the size of monthly debt purchases has not yet reached the standard of “substantial further progress”. However, it is expected that under the circumstances of continuous economic improvement, the discussion of gradually reducing the purchase of debt will continue to make progress, and relevant actions may be earlier than expected. However, some members believed that the upcoming economic figures might provide an unclear signal of potential economic momentum, reflecting that there are still differences of opinion on tightening actions within the bureau. Since there is nothing special about the meeting minutes, the U.S. exchange rate dropped slightly.
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