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Jindao Precious Metals’ exclusive analysis is that the strength of the U.S. economic recovery is not ideal. Its initial value for the second quarter was far less than market expectations, which reduced investors’ confidence in the U.S. economy. The U.S. dollar index fell sharply last Friday, and the daily chart has been negative for five consecutive years, showing a relatively weak trend. The price of gold has accelerated its rebound and may resume its upward trend. In addition, silver prices stopped falling and rebounded, and the trend began to turn warmer. It is expected that the trend of gold and silver will fluctuate upward in the market outlook, and investors can choose the strategy of buying a small amount and going long.

Affected by the weakening global economy, the U.S. economy also performed poorly. Data released by the U.S. Department of Commerce showed that the initial annualized quarterly rate of the U.S. in the second quarter was only .%, and the expected growth was .%. The previous value was revised from .% to .%. In addition, the U.S. Department of Commerce also pointed out in today's report that U.S. private fixed investment, including residential and commercial spending, fell by .% in the second quarter, the largest decline in seven years. The weak data put pressure on the US dollar index, adding momentum to the rise of gold and silver.

Due to the weak economic growth in the United States and the decline in residents' income, sources are also less confident. The final value of the University of Michigan's U.S. consumer confidence index for the month was slightly lower than expected and also lower than the month-end value, but higher than the initial value. Specific data shows that the final value of the University of Michigan's U.S. Consumer Confidence Index for the month is estimated to be the first value and the final value of the month. The overall consumer confidence index in May was still lower than the previous month's level, mainly because of growing concerns about the economic prospects of high-income households, which further suppressed the trend of the U.S. dollar index, thereby adding momentum to the rise of gold and silver.

Gold technical analysis: Gold reached its highest and closed lowest last Friday. The price of gold rose sharply last Friday, continuing the recent upward trend, and the market's active buying power continued to increase. The price of gold has broken through the daily moving average upwards, and the overall trend has become warmer. Among the corresponding indicators, both lines remain upward, which may continue to push up the price of gold. The overall trend of gold has strengthened. It is expected that gold prices will fluctuate upward in the market outlook. Investors can consider a long buying strategy.