Today Tuesday (December 6), Gold continued to rally intraday,price of goldTemporarily stay at 1775 US dollars / ounce, the key gold range is 1760-1800.
The Fed is expected to raise interest rates this month for the last time this year. Earlier, Powell said the Fed will slow the pace of interest rate hikes as early as December. However, recent data shows that the US economy remains positive, which puts further pressure on the Fed to raise interest rates.
On Monday (December 5), local time, data released by the Institute for Supply Management (ISM) showed that the US services sector PMI rose to 56.5 in November, significantly above the 54.4 of October. largely exceeded expectations Market Earlier Expectations were for a decline to 53.1. In addition, the economic activity index rose to 64.7 from 55.7 in October, an increase of 9 points, the largest increase since March 2021. From other sub-items, the employment index also rose by 2, 4 points to 51.5, while the new orders index fell by 0.5 points to 56.
With strong data, the Fed may need to continue raising interest rates, especially if inflation remains high. The US economy is expected to slow further next year as the Federal Reserve continues to maintain a tight monetary policy.
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Responsible editor: Zhang Jingdi