The annual meeting of global central banks will be held this Thursday, Gold prices continue to be supported

In Daily Market Review, English
August 24, 2020

The annual meeting of global central banks will be held this Thursday
The focus of the market this week is believed to be inseparable from the annual meeting of global central banks (Jackson Hole) on Thursday. Fed Chairman Powell will speak first on Thursday. The market is concerned about how the Fed’s printing of money due to the epidemic will affect future inflation. Since this is the first time Powell has spoken in public since the Fed’s interest rate meeting at the end of July, the market has been paying attention to how Powell will view the latest economic situation in the United States after about a month.

Gold prices continue to be supported
The recent trend of gold is mainly affected by the U.S. dollar. Prior to this, the U.S. dollar fell to a low in more than two years, which once pushed gold to $2075. But as the dollar stabilized, gold fell sharply. In general, the fundamentals of gold are generally good, which will continue to support gold prices. Analysts have polarized the short-term trend of gold. However, analysts generally believe that if gold confirms the 1920-1900 support, gold is expected to continue to rise, otherwise there is a possibility of further correction if it falls below this range.

—————————————————————

Z. com Bullion is an affiliate of GMO Financial Holdings, Inc., a Japanese listed group. The risk of loss in leveraged foreign exchange trading & margin trading can be substantial. Visit the company website to read full risk warning. https://bullion.z.com/en/about/legal/risk/

場外式黃金/白銀交易的風險:
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.