Lates News

Sinoda Futures points out that the core of gold price trends from the current drivers lies in the further restraint of interest rate expectations by the upward trend in energy prices. With the ongoing conflict in the Middle East, crude oil prices remain at high levels, with Brent crude oil futures previously stabilizing above $100, significantly raising concerns about inflation stickiness in the market. Against this backdrop, market judgments on the path of inflation decline are becoming cautious, thereby weakening the pricing for interest rate cuts and pushing the US dollar to strengthen temporarily, putting pressure on gold. Additionally, despite the previous weak employment data, the inflation expectations driven by energy are offsetting this bullish factor, making the short-term financial attributes of gold tend towards bearish. At the policy level, the market generally expects the Federal Reserve to maintain interest rates for the second consecutive meeting, but the key lies in the forward guidance on the interest rate path, especially Powell's assessment of the impact of inflation and geopolitical conflicts, which will directly affect the market's judgment on the subsequent pace of easing.