ATFXFutures Market: The international gold price has closed below for six consecutive trading days2000dollar

On the message side,11month12Russia announced that the evacuation of Russian nationals from the Gaza Strip has begun.11month13According to foreign media reports, the Israeli side has occupied the parliamentary building in Gaza City. The Palestinian Israeli conflict is showing signs of coming to an end, and the risk aversion sentiment in the financial market continues to weaken,goldThe price has fallen from a high level.11month6Starting from today,COMEXGold main contract quotation falls below2000The US dollar level has closed for six consecutive trading days at2000Below the US dollar. In addition, due to the continuous interest rate hikes by the Federal Reserve, the US dollar and bond yields remain high, weakening the long-term holding value of non yielding gold and leading to international gold prices repeatedly breaking through2000The US dollar cannot remain stable above the threshold.


From a technical perspective,COEMXThe main gold contract is in a rebound stage under a bearish trend,10month13Daily surge3.34%The Changyang Line has pushed the market price beyond the upper track of the channel, forming an effective breakthrough.10month27Daily highest price hit2019.7After the US dollar started to fall, the latest market price1949.2USD (Today17:06）, located in0.618Golden Ratio andMA30Near the medium-term moving average, with dual support, gold prices may initiate a new round of upward trend. As of now, there has not been a decisive Changyang line to drive market entry sentiment, so we still need to patiently wait for the bottom to solidify. It should be noted that the oscillation indicatorKDThe reading is in the middle area,11month8The dead cross formed by the Japanese supermarket buying zone is still playing a role, indicating the possibility of further decline in the market.

The trend of the US dollar index has a profound impact on international gold prices, and the long-term trend of the US dollar index depends on the monetary policy of the Federal Reserve. today21:30The US Bureau of Labor Statistics will announce10monthCPIIf the annual rate data is lower than the previous value, it indicates that the problem of high inflation in the United States has significantly eased, and the expectation of the Federal Reserve's aggressive interest rate hike will weaken. However, the declineCPIThe data is not enough to put pressure on the US dollar index to decline, as Federal Reserve Chairman Powell has repeatedly emphasizedCPIThe annual growth rate is still far higher than the mid-term regulatory target2%. In the medium to long term, unless there is a clear signal of recession in the US macroeconomy, the Federal Reserve will not change the high interest rate environment, and the US dollar index will continue to fluctuate at high levels, making it natural for international gold prices to remain unstable2000Above the US dollar.

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There are risks in the market, and investment needs to be cautious. The above content only represents the analyst's personal views and does not constitute any operational suggestions. Please do not consider this report as the sole reference. At different times, analysts' perspectives may change, and updates will not be notified separately.

2023-11-14