Comex June gold futures fell $12.01, or 0.69%, to close at $1732.7 an ounce on Monday. The previous day's gains gave up, and the dollar strengthened and gold came under pressure.
Recently, Powell said that the US economy is at an inflection point, and economic growth and job recruitment are expected to accelerate in the next few months, but some risks still exist, especially the resurgence of the novel coronavirus epidemic. Now it seems that the huge federal deficit will not lead to inflation. Some asset prices have reached record highs, and the Fed will support the economy until the recovery is complete, and does hope that inflation will be "moderately" above 2% for some time. The acceleration of economic recovery has led to a rise in US dollar and US bond yields and pressure on gold.
From a strategic point of view, the current gold bottom shock is obvious, combined with the dollar still has a rebound trend, gold price weekly trend is expected to be weak.
