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Tuesday Asia Spot prices in early trading
Prices fluctuated weakly and are now trading nearby. Spot prices
are currently trading nearby. International
It fell to its lowest level in about a month on Monday after data released by China showed signs of stabilizing economic growth, making investors worried that the Chinese government will tighten monetary policy again, while investors also remain worried that the Federal Reserve may soon reduce quantitative easing. Loose bond purchases have caused the price of gold to continue its previous decline and continue to be under pressure.
Industry traders pointed out that previous data showed that China's annual inflation rate has increased, and industrial production and investment data point to the stabilization of China's economy, which has ignited market participants' concerns that China will tighten its policies, which has contributed to the decline in gold prices. Gold prices have fallen for the third consecutive trading day and recorded their largest one-day drop in more than a month last Friday. The release of strong U.S. monthly employment data on the same day has led to market speculation that the Federal Reserve may reduce its bond-buying program as early as May.
For this week, after last Friday’s non-farm payrolls data, the focus on U.S. economic data and Fed officials’ speeches will rise again. The market needs to speculate on these two aspects of information. Is it possible that the Federal Reserve will reduce its policy in May? As this week begins on Wednesday, many officials from the Federal Reserve will give speeches. On Thursday, there will be a lot of economic data in the United States, including retail sales and inflation data. It is expected that this day will be the week. Yellen will also testify before the US Congress on the same day.
At present, in the absence of other news promotion, the market may temporarily fall into consolidation on Monday and Tuesday. This is not only an adjustment to a series of risk events last week, but also accumulation of energy for the upcoming events this week. .
Spot gold has closed negative weekly on a weekly basis. The decline for two consecutive weeks has almost recovered the previous two consecutive weeks of gains. The price of gold has once again returned to the lower and upper parts of the middle rail of the Bollinger Bands, and has been suppressed by the middle rail of the Bollinger Bands. The lower support is at the Bollinger Middle Track. The Bollinger Bands are gradually shrinking. The moving average indicators are intensively crossing near the Bollinger Middle Track. The gold price is under pressure above the - line. Attached chart D is below the axis. The golden cross is rising. The red column is heavy and the volume is decreasing. The middle line is looking at consolidation. On the daily line, the gold price is rebounding slightly. After repeated testing of the first line, the pressure fell back throughout the day, mainly around - doing sideways trading in a small range, and finally the daily line closed negative, showing that the bull rebound was blocked and continued the momentum of low and weak fluctuations. Judging from the trend, the market is in a strong short position, but the arrangement of the moving averages is still a bit tangled. The lower support is located in the resonance zone of the Bollinger Band and the trend line - Chai Jun, the first line, is more optimistic about the recovery of gold prices after a wave of dips. The performance in the hour is slightly weak. . When placing orders within the day, Chai Jun recommends still focusing on range operations, supplemented by high-altitude orders, and placing strict stop losses.
Part of the spot gold (London gold) order points:
See above the gold price - short stop loss nearby. See the target of one point -
, The gold price fell back below, and the short position intervened with long orders and stop loss. Look at the single point target -
, The gold price fell strongly above the level and pulled back - buy long stop loss nearby. Look at the single point target -
, the price of gold touches above - short stop loss nearby. Look at the target of one point -
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