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Gold price exploration last Friday The market rebounded from the bottom, the market's bargain hunting power is increasing, and its phased bottom may appear. U.S. new home sales unexpectedly fell to a seven-month low, weighing on the U.S. dollar index and spurring a rebound in gold and silver prices. Short-term gold and silver prices may continue to rebound slightly. Radical investors can choose to buy a small amount of gold and go long, but silver should maintain a short-selling strategy on highs.

Fundamental Analysis

Data released by the U.S. Department of Commerce on Friday showed that U.S. new home sales fell at an annualized rate of .%. The market had previously expected a growth of .%. The value was revised downward from an increase of .% to a decrease of .%. The total number of new home sales per month was annualized to . Monthly new home sales in the U.S. have plummeted, but recent housing data shows demand is growing. Friday's report also showed a decline in monthly average home sales. The median sales price of new homes was $10,000, down .% year over year. The average selling price also fell by .% year-on-year to US$10,000.

The Federal Reserve will hold its monthly interest rate resolution on Wednesday this week and will announce its latest interest rate resolution on Thursday. Although the market expects that this rate hike is less likely, the point of the rate hike is uncertain. Sex still makes the market pay full attention to this interest rate resolution. Both bulls and shorts remain cautious. The market is expected to remain volatile before the meeting. At the same time, the second quarter data of the United States will be released on Thursday. In the first quarter, the growth of the United States is relatively slow compared with last year. The market hopes Find evidence from this data that the U.S. economy is still recovering strongly. At the same time, the monthly rate of U.S. durable goods orders and the monthly Dallas business activity index will be announced tonight. The short-term market will fluctuate, so investors should pay more attention.

Technical Analysis

Silver fluctuated within a narrow range during the day. From a technical point of view, the silver moving average system is arranged in a short position, and the current overall trend is still bearish. The indicator fast and slow line is flattening below the zero axis, and the green kinetic energy column has decreased. In the hourly view, silver stood above and above, the golden cross below the zero axis of the fast and slow line, an indicator of short-term stabilization, diverges upward, and there is no kinetic energy column for the time being. Taken together, silver is still in a downward trend, and investors are advised to mainly short on rallies.

Long-short game

The spot gold market reached a strong upward trend last Friday after bottoming out. The overall market pattern is short, and there is a need for a correction in the short-term market. After all, it is quite oversold. Be patient and wait for full adjustment.

Reasons to be bullish: There are technical repair requirements after silver oversold.

Reasons for bearishness Yellen expressed support for raising interest rates within the year. The world's largest gold has significantly reduced its position in the United States. Recent economic data in the United States are better. Several US officials support raising interest rates within the year.