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2025-10-29 14:17:56
Gold prices rebounded slightly ahead of the Fed decision, but trade optimism and a strong dollar put pressure on prices. ① Gold prices rebounded slightly on Wednesday, with spot gold currently trading around $3,968.5 per ounce, up about 0.4%, as the market anticipated a Fed rate cut. However, optimism surrounding the US-China trade agreement and a stronger dollar kept gold prices near three-week lows. ② Supported by the 21-day moving average, the dollar index rose 0.2% on Wednesday, increasing the cost of gold for holders of other currencies. ③ OANDA senior analyst Kelvin Wong pointed out that the short-term pullback in gold prices stemmed from trade optimism, driving safe-haven funds towards assets such as stocks. "Gold faces pressure from leveraged traders adjusting their positions and a break in technical support, but the fundamentals remain bullish." ④ US and Chinese officials finalized a framework for a trade agreement over the weekend, and the leaders of the two countries will meet in South Korea on Thursday. An ANZ report stated that trade progress weakened safe-haven demand, and the pullback in gold prices may provide central banks with buying opportunities. ⑤ The Fed is expected to cut rates by 25 basis points on Wednesday, with investors focusing on Powell's forward guidance; the ECB is expected to keep rates unchanged on Thursday.
