Industrial Investment Golden Week Review: Prosperity Comes One after Another Gold bulls are eager to give up

Industrial InvestmentgoldWeekly review: Good news is pouring in one after another Gold bulls are eager to give up
2017year2month7day
stay1220dollar/Ounce, once eaten, closed the door and stepped back1180dollar/After an ounce, new US President Trump joined forces with hawkish Federal Reserve data that fell short of market expectations, escalating conflict between the US and Iran, and aggressive non farm data, helping to regain gold prices1220dollar/Ounces, and there is a tendency for further upward movement.
The upward trend of gold since the end of last year cannot be surpassed by the new US President Trump. After a week of silence in bullish gold prices, Trump's immigration ban caused panic in the market, causing gold prices to jump short and open high last week, with safe haven funds continuing to flow into the gold market. Subsequently, the Federal Reserve's interest rate decision emerged in a timely manner after strong US economic data. While optimistic about the economic outlook, it believed that inflation was still at a relatively low level and did not indicate the timing of the next action. Gold bulls were once again excited. At the same time, the conflict between the United States and Iran has escalated, and Iran's test firing of medium range ballistic missiles has been strongly condemned by the White House, with the intention of pushing for new sanctions. The high risk aversion has stimulated bulls to take it to the next level. Finally, the United States1Monthly addition of non agricultural personnel exceeds20Ten thousand, but the slow growth of salary has completely freed the bulls from their shackles and made a strong comeback once again.
Don't gold bulls have any worries to worry about?Of course there are!Last Wednesday's strong performance in the United StatesADPEmployment dataISMThe manufacturing index once caused bulls to retreat1200dollar/Below the ounce, gold prices rose strongly last Thursday after falling short of market expectations after the hawkish Federal Reserve's interest rate decision1225dollar/Ounces, but the bulls were scared before the non farm season and still stepped back1215dollar/One ounce line. This indicates that the gold market is concerned that strong US economic data could prompt the Federal Reserve to3Starting from the beginning of the month, interest rates have been raised, leading gold bulls even to the point of being caught in the shadows.
On the surface, last Friday's non farm activities have completely liberated gold bulls, but this is not the case. On the one hand, the US economy is indeed on a steady recovery trend, and the attitude of Federal Reserve officials towards raising interest rates three times this year is also relatively clear. What is currently lacking is the reassurance of Trump's economic stimulus policy. Two weeks after Trump took office, he signed22According to President Xiang's decree, only new policies in tax reform and infrastructure construction have been delayed in their tracks. The market cannot predict when this casual president will take relevant measures. Prior to this, gold bulls should be relatively safe. Once their economic new policies satisfy the market, they may become a new turning point in the gold trend. On the other hand, Trump's authority is being challenged. The US Court of Appeals rejected the Justice Department's appeal and upheld the decision of Federal District Court Judge James Robert to suspend the "transfer order", which may to some extent alleviate panic and weaken gold's risk aversion demand.
From the perspective of the linked market, the US dollar has fallen below the guidance of Trump's new government's "weak dollar" policy100Integer level, but there are signs of stabilization near key support in the medium to long term. This week, only the United States12The monthly trade account and speeches from several Federal Reserve officials suggest that unless Trump introduces new policies, bearish factors are relatively lacking. If the US dollar stabilizes and rebounds, it may pose a threat to the expansion of gold prices.
Technically, gold prices have stabilized again1200And stand up1220There is a tendency for further upward movement, but the random indicators are overbought and approaching1125-1130Resistance zone, 7month3The fluctuation since the high point of the current week38.2%The level of Fibo retracement is also located in this area, which may limit the increase. The upward trend of the daily chart remains intact, but needs to be broken1225Open further uplink space. However, if it rises and falls again, it will break through1220On the front line, it is necessary to be vigilant in building a head, shoulder, and top shape. Trend of this week5Long on dips without breaking the daily moving average, break up1225Follow up. support1220/1200/1190Resistance1225/1240/1250。