December 23 Financial Events and the Correlation with Gold Prices
On December 23, the global financial market will see the release of several key data points and events. This information, covering aspects such as economic fundamentals, monetary policy, and geopolitical factors, directly or indirectly impacts the trend in gold prices, serving as an important reference for investors positioning in gold.
U.S. core economic data is a critical variable influencing gold. The preliminary value of the U.S. third-quarter annualized GDP growth rate and the core PCE price index annualized growth rate, released at 21:30, provide a direct reflection of U.S. economic growth and inflation levels: if GDP growth falls short of expectations, it weakens the appeal of the dollar, prompting funds to flow into gold; if core PCE rises, it will strengthen the Federal Reserve's expectation of high interest rates, suppressing gold prices in the short term, and vice versa. In addition, U.S. data on October durable goods orders month-on-month and November industrial production month-on-month showcase the overall picture of the U.S. economy, and weak data often enhances the safe-haven value of gold.
Canadian economic data and central bank policies also warrant attention. The October GDP month-on-month reflects the state of the Canadian economy, while the following day’s release of the Bank of Canada’s monetary policy meeting minutes will reveal its interest rate policy direction. The Canadian dollar, being a commodity currency, closely correlates with fluctuations in commodity prices, indirectly affecting the dollar-denominated gold prices. The strength or weakness of the Canadian economy also influences the gold market sentiment through its connection with the North American economic sphere.
On the monetary policy front, the Reserve Bank of Australia’s December meeting minutes will reflect its policy inclinations. The fluctuations in exchange rates resulting from the divergence of global central bank monetary policies will transmit to gold prices via the U.S. dollar index. Geopolitically, a meeting of the UN Security Council concerning Iran's nuclear program, if it escalates tensions, will activate gold's safe-haven properties. Additionally, the following day’s total U.S. oil rig count and API crude oil inventory data will alter inflation expectations through oil prices, thereby impacting gold’s demand as an inflation hedge. #SOL上涨潜力 #代币化热潮 #比特币VS代币化黄金 #美国讨论BTC战略储备 #美联储降息
