The main Shanghai gold opened at 395.38 yuan/g on Thursday (June 30), and gold stabilized at around 393 yuan/g in midday trading; gold td opened at 393.12 yuan/g during the day, and the intraday gold price stabilized around 392 yuan/g.
International gold variety market:
The main opening price of US gold was $1819.2000 per ounce, and it closed at $1819.2000 per ounce yesterday. Spot gold opened at $1,817.36 an ounce during the day, and currently fluctuates around the $1,817/oz mark.
Message side:
Lagarde: The era of low inflation is over
Lagarde said the pre-pandemic era of ultra-low inflation was unlikely to return, and she was prepared to raise interest rates “gradually” over the next six months to combat “stubbornly high inflation”.
Lagarde said the economic recovery was underway, especially driven by the services sector. The European Central Bank is expected to raise interest rates twice in the third quarter from July, and must be ready to do more if needed, while raising rates gradually to deal with high levels of uncertainty. She later denied that the possibility of a 50 basis point rate hike had been completely eliminated, saying “the ECB may act more decisively as uncertainty subsides”.
The prospect of global central bank rate hikes worries gold bulls
The governors of the world’s major central banks said last night that winning the battle against inflation before considering growth, pushing high inflation back down around the world would be painful and could even collapse economic growth, but action must be taken quickly to prevent rapid price increases. Anticipation becomes ingrained. In particular, Federal Reserve Chairman Jerome Powell is strongly hawkish. Although there is a risk that raising interest rates may slow the economy sharply, the bigger risk is continued inflation. The prospect of interest rate hikes by global central banks has made gold bulls scruples, because the opportunity cost of holding gold will increase, which will increase the short-term downward pressure on gold prices, and may still test support near the 1800 integer mark .