Weekly

Last week was the American Super Week, and the presidential election followed by the Federal Reserve's meeting on interest rates had an impact on the long-term tone of gold. Therefore, at the beginning of the week, the market volatility was relatively calm, and the price of gold fluctuated around 2730 most of the time. In the middle of the week, after the general election, the votes were counted, and the election situation changed from evenly matched to Trump's overwhelming advantage. Unlike the previous election, which was controversial such as judicial review, the election situation became clear, which caused the VIX panic index to plummet. Under the blessing of Trump Trade, the US dollar and US stocks were greatly improved, and the price of gold plummeted.

The dollar rose to the 105 mark, while the gold price fell below the 2700 mark and fell to 2643.46, which has retreated nearly $150 from the historical high of 2790. After the period, it began to rebound. If the Fed cut interest rates by 1/4% as expected, it would help to reduce the cost of gold holders. In addition, technically, 2643 has fallen to the bottom of the short-term upward track, which made the gold price low and once rebounded above 2700. Unfortunately, the market closed at the weekend and the trend turned to consolidation.

Looking forward to this week, there are still a number of important economic data released, including CPI, PPI and retail sales since mid-week. Whether the gold price can regain its strength after the retreat will be tested this week. The market situation is a bit different, so let's refer to each other.