Kabuki Takaki Akira "Weekly Gold Market Outlook" September 20, 2022 issue
The report on the outlook for precious metals, written weekly by Takashi Kabutogi, the President and CEO of Investment Daily Co., Ltd., and a master of cycle analysis,.
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Last week, when New York gold closed at $1,672.8, down $46 from the previous week. Under the named CPI shock, interest rates rebounded sharply, rising to near 3.5% at the June high. Last week I stated the following: “The August U.S. Consumer Price Index (CPI) to be released on the 13th is in focus, but with expectations that the numbers will be strong, the dollar and interest rates have risen, and I expect a material-miss type move to occur at the release. Furthermore, if the numbers come in weaker than market expectations, the view that the rate hike for September will be scaled back may emerge. That would be favorable for the gold market. In any case, the market’s view that the FOMC will continue to raise rates aggressively may change here if the data shows signs of material exhaustion, or if weaker economic indicators begin to appear. This week, I will be watching this indicator.”
If the numbers come out stronger than market expectations, some market participants have begun to consider the possibility of a 1% rate hike.
For the full details, please refer to the PDF file.
【Takashi Kabutogi – Profile】
Graduated from Kansai University, Faculty of Economics. In 1995, partnered with the world-renowned U.S. market analyst Raymond Merriman to publish Japan’s first market cycle and astrology report. He is well known for cycle and astrology-based market analysis. President and CEO of Investment Daily Co., Ltd.; President and CEO of Investment Daily Publishing Co., Ltd.; Director of Wakabayashi FX Associates; member of the Japanese Technical Analysts Association; Editor-in-Chief of Investment Daily α.
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