Gold continues to test whether the 1500 support is more to short?

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Does the top investment bank eager to buy gold before the speech of the Federal Reserve Chairman Jerome Powell at the central bank’s annual conference?
Independent Analyst: Zhen QuanXi 

On the upcoming Friday, the central bank’s annual conference will be held in Jackson Hole, Wyoming. The central bankers attend the conference and deliver speeches to share difficult situations of the financial policies in different countries. In the meantime, Federal Reserve as the head of the central bank is regarded as the host and the Global Sheriff, the speech delivered by Chairman Powell will show the most shocking content.

If his speech delivered in the tone of dovish, it will force investors to worry about the Federal Reserve will cut interest rates by 50% in September. The Hedge Funds will be utilized to buy the gold and hedge risk first. It is not surprised that the gold price breaks through $1,600 per ounce at that moment. Investors believes that it would not be possible to cut interest rates so much if the Fed is not worry about the collapse of the US economy.

Don't forget that Trump has repeatedly criticized the Fed's financial policy, accusing it is the main culprit to drag down and decelerate the growth of the US economy.
Also, Trump claimed that Powell is a sinner and threatens to withdraw his position.

The president has been accidentally revealed his cards. In fact, the US economy is not as well as what the outsiders observed, otherwise he will not show his anxiety to the Fed chairman.

According to the statistics from the central bank's annual conference in the past 13 years, it shows a rising trend in 10 years, with the largest increase of 3%.

What is the probability of the hawkish at the annual meeting of Powell?

It is not difficult to find that the probability of a dovish is 70% and the probability of a hawkish is only 30%.

As Wall Street plumbed through Powell’s card, so one of the top investment bank encourage those fellow corporation eager to buy gold before the annual conference.

Friends, do you dare to stand with the investment bank?

I choose to believe it. Bottom fishing is the right way, can stop-loss in small amount and brings good returns, and is worth to invest!

All the information mentioned above only represents the view of corresponding Mentari. The information, opinions and analysis contained herein are based on sources believed to be reliable but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. PT Mentari Mulia Berjangka is not responsible for the content of any analysis, advice, comment, suggestion, research report or market data in this article and link to third-party resources.