The Fed Raised Interest Rates But Its Position Was Unexpectedly Biased Towards Doves.
The past week can be summed up in the following sentences: the third long-awaited increase in interest rates, but not against the power of pigeons; Holland populism Wilder fell down, but there is also the "most dangerous woman" Bon's mess; the euro bill passed without difficulty, but then came a Scotland "divorce"; Japan, Switzerland, Norway and other central banks chose not to act, but the Bank of England accidentally flew an eagle.
Among so many "but"
Investor
Very frustrated.
But the most disappointing thing is that fed Eagles seem to be like a shrivelled eggplant.
On Friday, the New York Mercantile Exchange delivered gold futures in April, up 3.10 U.S. dollars, or 0.3%, to 1230.20 U.S. dollars / ounce, the highest closing price since the beginning of March.
The price of gold has risen by about 2.4% throughout the week, the biggest weekly gain since February 3rd.
Silver futures for May delivery rose 8.3 cents, or 0.5%, to 17.413 U.S. dollars / ounce.
Silver futures prices rose 2.9% throughout the week, the biggest gain since early January.
Hedge funds and fund managers are cutting gold, silver and copper net positions before laying the trigger for this rally after the Fed raised interest rates in the morning of March 16th.
In the week of March 14th, the US Commodity Futures Trading Commission (CFTC) held a report that speculators cut gold and silver long net positions for two consecutive weeks. Gold net positions dropped to more than two months low, while silver net positions dropped to the lowest level since early February.
With the increase in interest rates, the Fed showed a pigeon stance, causing a sharp fall in the US dollar and a surge in gold and silver, and the bear force was undoubtedly hit hard.
This week, there are also several important officials, including Yellen, chairman of the Federal Reserve.
dollar
And the gold and silver market will face another round of violent fluctuations.
Not only that, the survey showed that gold traders and analysts turned to bullish gold prices this week after the Fed released a dove signal after raising interest rates. The bullish rate was the highest in two months.
The weekly survey of precious metals website Kitco also shows that Wall Street professionals and ordinary investors expect that this week's gold will continue the rally after the Fed's resolution, and the respondents' views on gold are unprecedented.
Although the Fed and European geopolitical news seized headlines last week, many traders began to bet on the stimulus plan such as trump and tax reform. Whether the US debt ceiling expires will affect the topic of these stimulus plans and has attracted market attention.
Last week, Trump announced the preliminary budget for the 2018 fiscal year. The budget put forward "historic budget cuts" by various government departments, and the environmental protection department and the State Council became the two main targets of budget cuts.
Goldman Sachs specifically pointed out that this budget blueprint did not disclose the path of fiscal stimulus or economic expectations, nor did it mention tax reform or infrastructure projects, which are the most concerned information in the market.
Hebba Investments also made it right.
Gold price
The position of the trend is adjusted from neutral to neutral.
The Fund said: "there are big differences in the budget within the Congress, and some Republican congressmen who have supported Trump have begun to argue.
With the advance of events, Congress will definitely ask for a drastically revised budget.
At that time, the optimistic stock market will be frustrated, and in the long run, capital will flow back to the gold of risk assets.
In addition, since Trump came to power, the topic of the US's possible global trade war has also caused some market concerns.
According to Kim ten previously reported that in the past G20 summit, due to the United States to take a non cooperative attitude, the joint statement after the first deletion of "anti protectionism and action to combat climate change" and so on.
The industry believes that Trump's remarks on trade protectionism are worrisome, and this concern will support the risk of gold.
For more information, please pay attention to the world clothing shoes and hats net report.
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