Weekly

The price of gold fell back after hitting a new high last week, and the market still kept selling pressure. It rebounded at the beginning of last week, but it was restrained above 2360, which failed to stabilize. During the Memorial Day holiday in the United States at the beginning of the week, buying was not active, and investors were seeking more guidance to lead the way, so they tended to go up and down. Investors waited for the GDP and PCE data after the middle of the week, and both of them met expectations. PCE did not deteriorate further. Although the price of gold rebounded, it did not last long and reached a high level.

Looking forward to this week, the United States will release labor market data, which is expected to give more directions. Earlier, the labor market released a weakening signal, which increased everyone's expectation of reducing interest rates in the United States. Later, it was seen that the price of gold rose more than 100 dollars for two weeks in a row. If the labor market continues to weaken this week, it will stimulate the determination of Fed directors to reduce interest rates and have an important impact on the gold market outlook. The market situation is a bit different, so let's refer to each other.