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Express News | China Securities Co., Ltd.: The expected number of interest rate cuts in the United States within the year has been revised to 2 times, which is conducive to pushing up the prices of metals.
The central bank continues to suspend shareholding of gold!
On July 7th, the official reserve assets updated by the State Administration of Foreign Exchange showed that in June 2024, China's official gold reserve was 72.8 million ounces, unchanged from the previous month, and has suspended the shareholding of gold reserves for two consecutive months.
U.S. stocks closed with the expectation of interest rate cuts boosted by non-farm payrolls, with the S&P and Nasdaq hitting new highs! Tesla rose nearly 38% in eight days, while Nvidia cooled off.
In June, non-farm payroll employment in the USA fell sharply, with significant downward revisions to previous data, and the unexpected rise in unemployment rate highlighted a cooling labor market, leading the market to bet over 70% on rate cuts in September and December.
SPDR Gold ETF Options Spot-On: On July 5th, 173.25K Contracts Were Traded, With 2.3 Million Open Interest
On July 5th ET, $SPDR Gold ETF(GLD.US)$ had active options trading, with a total trading volume of 173.25K options for the day, of which put options accounted for 29.32% of the total transactions, and
Update: Gold Rises as Jobs Report Boosts Rate-Cut Hopes
(Updates prices.) Gold prices rose midafternoon on Friday as U.S. hiring slowed sharply in June, supporting expectations the Federal Reserve could move to lower interest rates as soon as September. Go
Gold and Silver Are Trading Higher Following US Employment Data.
Gold and Silver Are Trading Higher Following US Employment Data.