Weekly

June 7 th
 
Today's volatility range:

In the first two trading days of the weekend, the gold market fluctuated greatly due to non-agricultural data, with the worst value of $1,856. However, when the gold price opened in May, it was calculated that the highest price had risen as much as $140.

Therefore, with the downward adjustment of USD 37 on Thursday, the 14-day relative strength index of gold has been lowered from overbought to 63 points, which is more beneficial to the development of the market outlook, which also provides better opportunities for everyone to enter the market.

Last Friday's bomb also confirmed that the market promotion was not over yet. Earlier, it was analyzed that the dilemma of the Fed's interest rate increase lies in that the inflation rate has exceeded the upper limit of the Fed, but the job market is lagging behind.

Only by constantly diluting the out-of-control of currency; Nowadays, the employment data is still a little behind, and the worries of the market that the Fed will speed up the contraction of the table are temporarily erased. This Thursday, the United States will announce the core of May

Consumer price index, when the market will be able to spy on the Fed. Before the Fed has any new information, the price of gold should break through the psychological barrier of $1,900 again. Today, the proposed amplitude is 1882-1900.

Last week, the rising trend of the weekly chart of the gold market finally broke the cable. At the beginning of the week, it still fluctuated within a narrow range. Most of the time, it struggled for the psychological barrier of $1,900. On Thursday and Friday, the price of gold changed and was fully employed

The data fluctuated greatly, and the ups and downs between two days were sharp! On Thursday, ADP released a report on the change of non-agricultural employment in May, which showed that 978,000 new jobs were added.

It is the highest figure since June 2020. From the classification in the report, it can be seen that the service industry alone has increased by 850,000 jobs, and the industries with the largest growth are leisure and hotel industry, with an increase of 440,000 over the previous month.

Last month, the purchasing managers' index of the Institute of Supply Management in the United States published 64 points, which just supported the acceleration of the recovery of the service and retail industry in the United States. And then another employment announced

The data also reflect that the job market is booming and the number of unemployed people is decreasing. Last week, the number of people applying for unemployment benefits for the first time in the United States recorded 385,000, setting a new low since the week of March 14 last year.

It fell below 400,000 people for the first time. The gold market was greatly adjusted. The highest price of gold on that day was $1,910. After the data released by small non-agricultural enterprises, the yield of US dollars and 10-year government bonds increased, and the price of gold fell below the level of $1,870.

The lowest price was $1,865, and the intraday fluctuation reached $45. It rebounded slightly before the closing of the day and closed at $1,871, still falling by $37.

 
In the early days of the market opening on Friday, the market continued to worry about the ideal employment data, which would speed up the Fed's interest rate hike. The gold market took on an early decline and fell below the support position of $1,864 on Thursday. The short position left one foot.

The lowest price of gold started to rebound at $1,856. In addition, the number of non-agricultural employment in the United States last month exceeded 559,000 as announced by the US Department of Labor. Although it has doubled from April,

However, it was still lower than the market expectation, and the US dollar fell immediately. The gold price recovered most of the lost ground on Thursday, with the highest price of US$ 1,896, and finally closed at US$ 1,891, rising by US$ 21 every day and falling by US$ 7 every week.

 
Earlier, it was analyzed that the dilemma of the Fed's interest rate hike lies in the fact that the inflation rate has exceeded the upper limit of the Fed, but the job market is lagging behind. Only by constantly diluting the runaway currency, the employment data still lags behind.

The market's worries that the Fed will speed up the contraction of the table are temporarily erased. However, the Federal Reserve is planning to gradually sell an emergency loan arrangement launched last year against the COVID-19 epidemic, that is, by buying a corporate bond portfolio

The increased liquidity in the market shows that the liquidity in the market is sufficient now. Although the Federal Reserve reiterated that the reduction of investment portfolio has nothing to do with monetary policy, it is not any signal of monetary policy. But the discerning person also

Knowing that this reduction is followed by a reduction in debt purchase, and finally an increase in interest rates. Even though the Fed still believes that the current general account is temporary, whether the US inflation rate is out of control before raising interest rates is still the market concern

As this is one of the necessary conditions for the Fed to consider delisting, the United States will announce the core consumer price index for May this Thursday, when the market will be able to spy on the Fed's movements.

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