powerballwinners| U.S. economy accelerates and interest rate cuts are expected, precious metal prices fluctuate higher

News summary

Gold and silver futures prices closed at 2,371 respectivelypowerballwinners. 20 US dollars/ounce and 30.13 US dollars/ounce. US bond yields and real interest rates rose, and precious metal prices were under pressure. However, in the long run, geopolitical risks and central bank purchases of gold may support the volatile rise of precious metals. China continued to increase its holdings of gold reserves, increasing to 72.8 million ounces at the end of April.

Newsletter text

[Precious metals market experiences price fluctuations] Spot gold prices in London closed at US$2,357.35 per ounce, while spot silver prices closed at US$30.54 per ounce. On the same day, COMEX gold futures and silver futures closed at US$2,371.20/ounce and US$30.13/ounce respectively. The US dollar index fluctuated slightly, closing at 105.03, rising 0.50% in the past five trading days. At the same time, the yield on 10-year U.S. Treasury bonds rose to 4.47%, up 2.05% in nearly five trading days. The initial US S & P's global manufacturing PMI in May was 50.9, setting a record for two monthspowerballwinnersThe initial PMI for the service industry reached a new high of 54.8, the highest level in the past 12 months. The initial comprehensive PMI also rose to 54.4, the highest level in more than two years. Data showed that U.S. business activity accelerated in May, and interest rate traders postponed their forecast for the Federal Reserve's first interest rate cut from November to December, reflecting expected changes in monetary policy adjustments. Although rising U.S. bond yields and real interest rates have put pressure on precious metals prices in the short term, long-term factors such as geopolitical risks, monetary policy changes and central bank gold purchasing behavior are expected to provide strong support for precious metals. From a long-term perspective, the potential recession risks of the European and American economies and the continued expectation of currency and debt credit risks have provided sustained upward momentum for the precious metals market. The central bank's gold reserve strategy also shows long-term confidence in precious metals. For example, China's gold reserves increased by 60,000 ounces at the end of April compared with the end of March, and it has increased its gold reserves for 18 consecutive months.