📉 Gold prices are falling, the dollar is strengthening: What is happening in the market? 📊
Due to unexpectedly strong U.S. employment data, the metal market has collectively turned green today. This data doused cold water on those expecting the Federal Reserve to cut interest rates soon.
Market quick report:
• Spot Gold (GOLD): Down 0.27% — Reported at $5,064.65/ounce. The gold price fell back after breaking the $5,100 mark.
• Spot Silver (XAG): Down 0.51% — To $83.6.
• Platinum (PL): Leading the decline, down 1.41%, reported at $2,101.85.
• Palladium (XPD): Rising against the trend! Up +0.54%, reported at $1,708.91.
In-depth analysis:
Ole Hansen from Saxo Bank pointed out that the strong job market supports the dollar. When the dollar strengthens, gold often comes under pressure. Additionally, as the **Lunar New Year (Spring Festival)** approaches, liquidity and risk appetite in the Chinese market may further decline. 🧧
Follow-up attention:
Investors are closely watching Thursday's U.S. initial jobless claims data and Friday's inflation index. This data will directly affect the Federal Reserve's future monetary policy direction.
Operational strategy:
Maintain a wait-and-see approach. Although market volatility is returning to normal, bullish expectations for a rate cut by the Federal Reserve are temporarily hindered.
Do you think gold prices can break $5,200 this month? Or will the correction continue? Feel free to discuss in the comments! 👇
