Weekly

After a week of low prices, the price of gold rose and fell sharply last week. As soon as the market opened at the beginning of the week, the price of gold began to rise. After breaking through the top 2650 of the horizontal range in the previous week, buying continued to be sought after. 2610 has become a short-term support in the past two weeks, keeping the psychological barrier of 2600 steady and pushing technical buying in the direction of 2700.

In the middle of the week, when the gold price broke above 2700 again, the inflation data released by the United States was similar to that expected, and it was relatively moderate. The CPI reported 2.7%, and inflation did not worsen. I believe that the interest rate reduction process in the United States will continue. This week, the opportunity for the Federal Reserve to cut interest rates rose to 97%. Under the high expectations of the market, the gold price rose to a full-week high of 2726.15 before falling back.

However, it continued to retreat before the weekend, and fell below the 2700 mark, almost all the gains in the whole week were retreated. The volatility of the whole week was huge, but the closing price was only slightly higher, indicating that the high position was insufficient. Looking forward to this week, the Fed meeting is the focus of the whole week, and it is almost a foregone conclusion to cut interest rates by 0.25%. The market will also pay attention to the bitmap and guess the interest rate forecast in 2025.

Since Trump has clearly expressed the protectionism of increasing tariffs, it is believed that it will bring a crisis to inflation, which may narrow the space for interest rate cuts in the United States, thus suppressing the momentum of rising gold prices. The results of bitmap will provide more enlightenment. The market situation is a bit different, so let's refer to each other.