Fei Yifei:8.30During an extraordinary week, gold bottomed out and rebounded

　　
Monday(8month29day)The UK market is closed, and trading in the US market is also relatively light, with spot pricesgoldBottoming out and rebounding, once breaking a one month low to1314.87dollar/Ounces, but later rebounded to1320Near the US dollar, but considering the Federal Reserve9The expectation of monthly interest rate hikes has significantly increased, and in the eveningPCEThe price index is relatively optimistic, and the overall pressure on gold prices remains significant;crude oilThe market, as Iraq and Iran have plans to increase production and compete for market share,9The hope of achieving frozen production on a monthly basis has become even more slim, with oil prices continuing to decline by more than1%There is still a risk of further sharp declines in the future.
　　
The surge in the US dollar index on Monday continued to put pressure on gold prices, with the eveningPCEThe price index and personal consumption data are also quite impressive, continuing to provide support for the Federal Reserve's expectation of interest rate hikes, which makes the downward risk of gold prices still significant. However, gold bulls remain resilient, and the market is still waiting for the release of the US this week7Monthly non farm employment report. Data display, United States7monthPCEAnnual growth rate of price index0.8%, meets expectations but falls short of the previous value, with the previous value indicating growth0.9%； U.S.A7Monthly CorePCEAnnual growth rate of price index1.6%Better than expected, expected growth1.5%Previous value growth1.6%。
　　
Reuters commentary pointed out that although inflation in the United States has stabilized, further improvement is still needed if the Federal Reserve is to make a decision to raise interest rates. The data also shows that the United States7Monthly personal expenditure growth rate0.3%Meets expectations but falls below the previous value, with the previous value rounded up to0.5%； U.S.A7Monthly growth rate of actual personal consumption expenditure0.3%Better than expected, expected growth0.2%, previous value up cultivation0.4%. Reuters commentary suggests that personal consumption has been growing for four consecutive months, mainly due to strong demand for cars in the United States, tightening labor markets leading to higher wages, and rising property and stock prices increasing household wealth. This is conducive to boosting economic growth, offsetting the significant decline in inventory and commercial investment, or suggesting that the Federal Reserve will raise interest rates this year.
　　
Technical analysis:
　　
In terms of spot gold, the daily chart did not continue to decline yesterday, but instead collected a small yang, which in the short term is affected by the daily chartBOLLThe support of the lower rail line is still displayed today1315Nearby, pay attention to the resistance aboveMA60Mean Line and Track Line Indicators in the Channel, Roughly1326-28First line, combined with the attached imagestoThe strength of the indicator golden cross is slightly weak, so be cautious of a mid way decline in the market,4At present, the price of gold has been fluctuating in the past few hoursBOLLAbove the middle rail line, there is some support below, and attention should be paid to the upward spaceMA30Mean Square andBOLLPressure on the upper rail line, roughly1326-27First line, with attached imagestoThe indicator golden cross has been depleted, and the author suggests using a high-altitude strategy temporarily for operation.
　　
Suggestions for spot gold operations:
　　
　　1Above1326-28Short selling, stop loss1330On, target1320-18frontline;
　　
　　2First time below1315-16Long nearby, stop loss1311, Objective1322That's enough;
　　
In terms of Ninggui asphalt, the daily chart showed that the upper shadow line was too long when closing last Friday, and it was affected by the opening on MondayMA5The moving average continues to suppress the downward trend, but ultimately it is also affected byMA240The moving average support received a small downward shadow yesterday, and today's opening is similar to yesterday'sMA5The moving average is suppressed by4530Nearby, there is a small amount of space below, the first supportMA240Moving average4480First line, second supportMA66of4450Support and prioritize high-altitude operations as much as possible.
　　
Suggestions for the operation of Ninggui asphalt:
　　
　　1Opening price4530Short selling and stop loss can be done nearby40Points, target4480Nearby;
　　
　　2Second support4450Try to go long nearby and stop loss40Points, target4500-20That's enough;
　　
Today's Key Financial Data and Events2016year8month30Day Tuesday
　　
　　①07:30Japan7Monthly unemployment rate
　　
　　②15:00Switzerland8monthKOFEconomic leading indicators
　　
　　③16:30britain7Monthly central bank mortgage loan permit
　　
　　④17:00eurozone8Monthly economic prosperity index8Monthly Industrial Prosperity Index8Final value of monthly consumer confidence index
　　
　　⑤20:00Germany8monthCPIInitial monthly rate
　　
　　⑥20:30Canadian Q2 Current Account
　　
⑦21:00U.S.A6monthS&amp/CS20Annual rate of housing price index in major cities
　　
⑧22:00U.S.A8Monthly Conference Chamber Consumer Confidence Index
　　
⑨ The next day04:30From the United States to8month26Day and WeekAPICrude oil inventory
　　
Disclaimer: The above article was written by analyst Fei Yifei, and some news and information content is excerpted from online resources. The content of the article is for reference only and does not constitute investment advice. Investment carries risks, and investors operate accordingly at their own risk. Please indicate the source when reprinting.