Weekly

Gold hit a new high for six consecutive days, with Wall Street calling for $10,000. Last week, the price of gold hit high levels one after another. After the Easter holiday resumed, it continued its high-yield performance in the first quarter and rose again at the beginning of the week with a gap. This is the second consecutive week that the price of gold rose and opened, with an increase of nearly $100 for the whole week. There is almost no suspense in the market. It is expected that the price of gold will rise to the 2300 mark. Although the dollar is strong, the market has ignored and pursued gold. Due to geopolitical tensions and the central bank's active purchase of gold, the price of gold has been constantly breaking through. Although the labor market, which the market is more concerned about, performed well, ADP and non-agricultural products were better than expected, but the pressure on the gold price was limited. After a period of retreat, the gold price reached a new high and closed at a high level all week. Since 2024, it has risen by nearly $300, especially in the big bull market since 2002, when it started for ten years, with a cumulative increase of seven times. Some analysts on Wall Street have begun to predict that the bull market is not over yet, and the top is expected to be at the $10,000 mark, which is four times the current potential increase. Looking forward to this week, the United States will announce CPI. The market is gradually digesting the possibility that interest rates may not be cut in June, or there is an excuse to make gold prices retreat. However, the gold market is supported by technical and substantive buying, and there is still no sufficient signal to show that gold prices have peaked. The market situation is a bit different, so let's refer to each other.