Friday (June 25), the much-watched US PCE price index triggered huge fluctuations in the gold market. The price of gold rose modestly at the close on Friday, at $1,781.44 per ounce. If the price of gold falls below $1770.00 per ounce, the market outlook faces the risk of a further plunge. According to data released by the US Department of Commerce on Friday, local time, the US Personal Consumption Expenditure (PCE) price index increased by 3.9% annually in May, which was in line with expectations; the core PCE price index in May increased by 3.4% year-on-year, hitting April 1992. The largest year-on-year increase since, but the increase is also in line with previous expectations. The monthly rate of the core PCE price index in the United States increased by 0.5% in May, compared with an expected increase of 0.6%; the actual monthly rate of personal consumption fell by 0.4% in May, and the April data was revised upward to an increase of 0.3%. After the data was released, the price of gold rose in the short-term, hitting a maximum of 1,790.40 US dollars per ounce, then fell sharply to 1,775 US dollars per ounce, and then the gold price rebounded slightly, closing above 1780 US dollars per ounce.
The United States still lost 7.2 million jobs before the epidemic, and Fed Chairman Powell once said that one of the important indicators of when the Fed will tighten monetary policy is that lost jobs must be replaced. This Friday, the United States will announce its June employment report. The market estimates that non-agricultural new jobs in the United States will have the opportunity to increase by 600,000 jobs. If it is true, this will be about the same as the increase of 559,000 jobs in May. According to simple calculations, if we add about 600,000 jobs per month, it will take 12 months to make up for the jobs lost before the epidemic until the second half of next year. But of course, this is not yet calculated. The average US must add 100,000 to 150,000 jobs per month to help graduates enter the society.
Service relating to Over-the-counter (OTC) Gold Bullion/Silver trading is provided by MOL. OTC Gold/Silver Bullion trading carries a high degree of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. OTC Gold/Silver Bullion is not regulated by the Securities and Futures Commission (""SFC"") and therefore trading OTC Gold/Silver Bullion will not be subject to rules or regulations promulgated by the SFC. Before deciding to trade OTC Gold/Silver Bullion you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain losses in excess of your deposited fund or even more in extreme circumstances and therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading OTC Gold/Silver Bullion, and seek advice from an independent financial advisor if you require.
