Latest Update in the China Gold Market

Power curtailment has limited impacts on the downstream silver enterprises, and those that are slightly affected also have informed other related enterprises timely, thus the market supply and demand of silver are relatively stable.

The U.S. dollar index surged to a one-month high on Thursday as Federal Reserve officials spoke of the need for further rate hikes, and investors reevaluated Wednesday’s minutes from the U.S. central bank’s July meeting as being more hawkish than originally thought.

The U.S. dollar pared its gains on Wednesday after minutes from the Federal Reserve’s July meeting showed that Fed officials are concerned the U.S. central bank could raise rates too far as part of its commitment to get inflation under control.

The dollar was little changed against a basket of currencies on Tuesday as investors waited on U.S. retail sales and minutes from the Federal Reserve’s July meeting on Wednesday.

The safe-haven U.S. dollar rose on Monday after a new batch of disappointing data from China bolstered global recession worries, while the yuan weakened following a People’s Bank of China surprise rate cut.

The dollar rallied on Friday but was set for a weekly drop as traders weighed improving U.S. inflation data against comments from Federal Reserve officials who cautioned the battle against rising prices is far from over.

The dollar lost further ground versus other major currencies on Thursday, after traders reined in bets on an aggressive interest rate hike by the Federal Reserve after softer-than-expected U.S. inflation data the previous day.

The dollar fell broadly on Wednesday, with its biggest decline against the yen since March 2020, following a cooler-than-expected inflation report for July that raised expectations of a less aggressive rate hike cycle than previously anticipated from the U.S. Federal Reserve.