Gold: Easy Come, Easy Go – Commerzbank

FXStreetJul 23 10:59 ET

Goldman Sachs: For every 10% drop in gold price, physical gold demand in China rises 16%, and gold prices are expected to remain at 2700 next year.

Goldman Sachs believes that physical gold demand still dominates the Chinese market, and Chinese consumers may play a key role in pushing up gold prices. There is still more than 12% room for gold prices to rise next year, and expectations of a Fed rate cut and demand from central banks around the world will also help boost gold prices.

wallstreetcnJul 23 05:17 ET

Recently, after reaching a new high, gold has undergone a significant adjustment, and the golden industrial concept has collectively declined. Chinagoldintl (02099) fell by 4.97%.

Jingu Finance News | Golden stocks collectively declined, Chinagoldintl (02099) fell by 4.97%, Zhaojin Mining (01818) fell by 3.52%, SD Gold (01787) fell by 3.26%, Zijin Mining Group (02899) fell by 3.21%, Lingbao Gold (03330) fell by 2.4%. Galaxy Futures said that due to major macroeconomic data such as employment and CPI in the United States being lower than expected recently, coupled with positive progress on inflation control by Fed officials including Powell, the market is heavily betting on a rate cut in September, causing the US dollar index and 10-year t-note yields to briefly touch lows not seen since March.

金吾財訊Jul 23 01:52 ET

The market continues to digest the prospect of the US presidential election after Biden withdrew, and gold has fallen below $2400.

Due to traders weighing the decision of U.S. President Biden's withdrawal from re-election and what this means for the chance of Trump returning to the White House, the price of gold has slightly declined.

Zhitong FinanceJul 22 19:11 ET

Gold: Positioning Risks Skewed to the Downside – TDS

FXStreetJul 22 11:26 ET

Trending again! Spot gold once fell below 2400, is it another opportunity for layout?

The structural bull market remains unchanged.

Gelonghui FinanceJul 20 22:49 ET