Weekly

Retreat after the gold price hit a new high, it retreated and eased the overbought pressure before the weekend. Gold continued to be strong last week. In the past 11 trading days, 10 trading days continued to hit record highs, ignoring the ideal labor data of the previous week. At the beginning of the week, the price of gold began to rise, and it only began to struggle when it rose above 2350. Last week, the focus was on the inflation data of the United States and the expected destination of interest rates. The CPI released in the middle of the week showed that inflation was still high. Apart from being higher than expected, it was even more worrying that such a high interest rate environment still failed to effectively curb inflation and the market fell. There is intelligence that Iran will launch an attack on the United States, and with the support of the central bank's recent substantial buying, the price of gold has declined slightly. In addition, the increase of PPI slowed down slightly on Thursday night, and gold rose sharply again. On Friday night, it broke through $2,400 for the first time, and it has risen to more than $100 since Monday. It is a pity that it is too cold at the top. Before the weekend, it retreated in the US market, triggering a chain reaction, and overbought positions were closed before the market closed on Friday, resulting in a sharp fall in the price of gold. Although the market fundamentals still support the ideal performance of gold in the market throughout the year, the technical trend still needs to find a supporting position. This week, the market paid more attention to the retail data and the speech of Federal Reserve Chairman Powell. After the gold price adjustment, there may be an ideal medium-and long-term market entry position. The market situation is a bit different, so let's refer to each other.