Dingsheng Jinshi: Gold prices encounter obstacles and need to be adjusted. Analysis of the latest trend of European gold

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　　5month25During trading in Sanya, InternationalgoldThe trend is fluctuating and falling, with gold prices opening early in the morning1866The US dollar has risen to a maximum of1868USD, lowest drop to1854USD, currently trading in1858Near Yuan.

Last week, gold bottomed out and rebounded, and the upward trend continued this week. Market concerns about a slowdown in the US economy dragged down the US dollar and US stocks, as well as concerns about inflation and the geopolitical situation between Russia and Ukraine, which attracted bargain hunting. These were the main factors supporting the rise in gold prices. Gold continued to rise5The trading day closed positive, but gold prices encountered resistance and fell back within the day. Dingsheng Financial believes that the market expects a more hawkish possibility of the evening Federal Reserve meeting minutes, which will drive the rebound of the US dollar. There are signs of a slowdown in the downward trend of the US dollar, which will put pressure on gold prices. Looking ahead to the future, gold's short-term fluctuations may show a long short tug of war, but it is falling below the limit1850Before the US dollar, the overall direction may still tend to fluctuate upwards.

In terms of news, the United States4The monthly sales data of new homes will reach a low of nearly two years; The European Central Bank is shifting towards hawkishness, with ECB President Lagarde giving a speech, hinting at at least an increase in ECB deposit rates in the market50One basis point, which suppressed the US dollar from continuing to hit a new low in the past month on Tuesday; Federal Reserve official Bostic gave a speech urging the Federal Reserve to act cautiously when tightening monetary policy; Goldman Sachs and Bank of America predict that the stock market may further decline before the Federal Reserve signals the end of tightening monetary policy, and Bridge Water Fund has previously warned that the stock and bond markets are too optimistic; In addition, Russia launched a comprehensive attack in eastern Ukraine on Tuesday, and the above news is favorable for gold prices.

In terms of trend, the rebound of gold has temporarily encountered resistance, maintaining near the high of the past two weeks and fluctuating. The market's wait-and-see sentiment has increased, waiting for the release of the minutes of the Federal Reserve meeting. Technically, at the daily level, gold continues to rebound after stopping its decline,5Daily moving average and10The daily moving average crosses upwards,5The daily moving average starts to cross the Bollinger Bands middle track,MACDThe low gold cross below the zero axis of the indicator indicates continuous efforts from multiple parties, but the Bollinger Bands are starting to shrink, and the upper and lower tracks of the Bollinger Bands are decreasing1900Near the US dollar checkpoint,STOAndRSIThe indicator gold price has started to turn downwards, indicating that there is a certain demand for adjustment after the continuous rebound of gold prices. At the same time, the space for the continuous rebound of gold prices has been compressed.

In terms of operation, the rise of gold is temporarily hindered and adjusted, and the gold price is falling below1850Before the US dollar, the overall direction was still inclined towards a volatile upward trend, and Dingsheng Jinshi suggested paying attention to it1850Supported by the US dollar, with multiple orders placed on dips and strict risk control during operations.

　　— This article is contributed by Ding Sheng Jin Shi.

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