Deterioration of risk sentiment, The dollar soared and gold fell from a high position

18 Aug, 2021

Fed chairman Powell: the Fed is independent in monetary policy decision-making. It is important for the fed to adhere to its existing functions.

Fed chairman Powell: the Fed is independent in monetary policy decision-making. It is important for the fed to adhere to its existing functions. The Fed's "powerful policy tools" have many limitations. In contrast, fiscal or government policies are more powerful; Monetary policy cannot bring directional benefits.

The dollar index once rose 0.6%, the largest increase since August 6. Previously, the decline in retail sales data released by the United States in July exceeded the expectations of most economists.

Spot gold fell 0.07% to $1786.19 an ounce in late trading, after hitting its highest point of $1795.51 since August 6. COMEX December gold futures fell 0.1% to US $1787.80 / ounce. 

CFDs (Contract For Difference) are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks and take appropriate care to manage your own risk. Please read our Risk Disclosure carefully.