During the European trading session, the commodities market saw clear volatility. Analysts Giulia Petroni noted that, under a multi-pronged onslaught from a surge in oil prices, higher U.S. Treasury yields, and growing expectations of further rate hikes, New York futures gold fell 0.5% intraday to $4,383.90 per ounce, and is expected to log a weekly decline of more than 2%. Meanwhile, geopolitical tensions in the Middle East continue to disrupt events. Reuters reported that Yemen’s government forces have withdrawn from the Peeling Island in the Strait of Mandeb.
The core driving force behind this adjustment is the repeated swings in inflation expectations. U.S. August PPI data came in higher, and with energy costs potentially continuing to rise amid the geopolitical situation in the Middle East, it has thoroughly shaken rate expectations. According to the CME FedWatch tool, traders currently assign a 67% probability to the Federal Reserve raising rates next week, and market focus has fully shifted to the CPI data to be released on Friday evening.
For traditional macro markets, strong rate-hike expectations directly boosted the U.S. dollar and risk-free yields. As a non-yielding asset, gold faces clear near-term pressure, and overall commodity performance has also fallen into divergence and consolidation amid concerns about tightening liquidity.
For the crypto market, tighter macro liquidity expectations will likewise affect risk appetite on the exchanges. Some funds may choose to stay on the sidelines before key CPI data and the rate decision are finalized. In the short term, major assets such as $BTC may follow traditional risk markets and continue trading in a range, with both bulls and bears waiting for the final shoe to drop.📊
#黄金 #美联储 #CPI
The core driving force behind this adjustment is the repeated swings in inflation expectations. U.S. August PPI data came in higher, and with energy costs potentially continuing to rise amid the geopolitical situation in the Middle East, it has thoroughly shaken rate expectations. According to the CME FedWatch tool, traders currently assign a 67% probability to the Federal Reserve raising rates next week, and market focus has fully shifted to the CPI data to be released on Friday evening.
For traditional macro markets, strong rate-hike expectations directly boosted the U.S. dollar and risk-free yields. As a non-yielding asset, gold faces clear near-term pressure, and overall commodity performance has also fallen into divergence and consolidation amid concerns about tightening liquidity.
For the crypto market, tighter macro liquidity expectations will likewise affect risk appetite on the exchanges. Some funds may choose to stay on the sidelines before key CPI data and the rate decision are finalized. In the short term, major assets such as $BTC may follow traditional risk markets and continue trading in a range, with both bulls and bears waiting for the final shoe to drop.📊
#黄金 #美联储 #CPI
