International gold prices go down, but are supported by the weak U.S. index; FED continues to "no haste, be patient"
On September 7, international gold prices fell and faced pressure from global stock markets to record highs. However, the US dollar index was under pressure, which limited the downside of gold prices. The Fed’s expectations of maintaining easing policies in the short term heat up, and the FED is still very cautious about raising interest rates. These are the factors that support gold.

On Tuesday (September 7), international gold prices fell and faced pressure from global stock markets to record new highs. However, the Fed’s short-term expectations of maintaining easing policies rose, and the US dollar index was under pressure, limiting the downside of gold prices.
At GMT+8 16:05, spot gold price fell 0.38% to US$1816.47 per ounce; the main COMEX gold contract fell 0.85% to US$1818.3 per ounce; the US dollar index rose 0.05% to 92.260.
China's trade data showed that the growth rate of imports and exports in August was much higher than expected, which helped boost risk appetite.
Hareesh V, head of commodity research at Geojit Financial Services, said: “Many fundamental factors are still putting pressure on gold prices... People are optimistic about the global economic outlook. Investors may reduce safe-haven assets such as gold and reinvest in some risks. assets."
The disappointing August non-agricultural employment data in the United States last week ignited expectations that the Fed may postpone the reduction of asset purchases, and caused the price of gold to hit a new high since July 15 to $1,834.03 per ounce, but it also prompted investors to turn to the stock market.
In the United States, employment growth in August hit a seven-month low. Recruitment in the leisure and hotel industry slowed down due to the new crown epidemic, which hit the demand for restaurants and hotels. The data weakened the Fed's expectations of reducing debt purchases in advance.
Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities, said: "The service industry is losing momentum, which clearly reflects the impact of the mutant strain of Delta. If Delta has an impact, the Fed has no reason to insist on reducing this year. The purchase of debt, after all, its policy measures are conditional on employment recovery."
Investors are also paying close attention to the upcoming European Central Bank policy meeting on Thursday (September 9). As the euro zone economy recovers, policymakers may discuss phasing out stimulus measures.
Stephen Innes, managing partner of SPI Asset Management, said: "We have seen that the world's two largest central banks may reduce the size of bond purchases, but they are still very cautious about raising interest rates... I still think this is a support for gold. the elements of."
Some investors see gold as a possible hedge against inflation after stimulus measures, and lower interest rates reduce the opportunity cost of holding non-yielding gold bars.
It is reported that Fumio Kishida, a strong competitor who succeeded Yoshihide Suga as Prime Minister of Japan, called for the preparation of a stimulus plan of more than 30 trillion yen (US$273 billion) to alleviate the economic impact of the new crown epidemic.
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