Weekly

After the price of gold fell sharply last week, there was no selling pressure to follow last week, and two major changes in the market made investors wait with peace of mind. The successive inflation data in the middle of the week and the Fed's interest rate meeting are the focus of the public. Although the gold price fell below the 2300 mark last week, it stabilized above 2300 for most of last week.

Inflation in the United States showed signs of slowing down. The CPI and PPI on Wednesday and Thursday did not deteriorate, which supported the conditions for reducing interest rates in the United States. However, the Fed kept the interest rate unchanged after the interest rate meeting. The bitmap showed that there was a greater chance to reduce interest rates only once at the end of the year, which was three times more than expected at the beginning of the year, which made the gold price rebound weak and held the psychological barrier of 2,300, but it was also unable to go up.

Although inflation has not worsened, the Fed is cautious and still needs to control inflation with a high interest rate environment. Coupled with the booming job market, it has indeed reserved a bargaining chip for the United States to reduce interest rates, which has caused the gold price to be stuck in a state of ups and downs, making it more suitable for short-term operation.

There are not many important data this week. What is more important is the retail sales of the United States on Tuesday and the PMI data on Friday. In addition, Wednesday is the June holiday in the United States, and the US market will take a day off. The market situation is a bit different, so let's refer to each other.