Haofeng Commodity Trading Center

Haofeng Bulk Commodity Trading Center investment hotline, real-time market analysis, all market trends are broken
Professional investment solution, accurate online order placing, personal agents are sincerely recruited, the company's gold price once fell to US dollars The price hit an intraday low, but then rose higher due to the dual support caused by the breakdown of negotiations in Greece and poor U.S. economic data, and once refreshed the three-day high of the dollar per ounce. As of the close, international spot gold was quoted in US dollars per ounce. The trend of international silver prices is the same as that of gold. The lowest price only touched .USD and the highest reached .USD, setting a new seven-day high. Finally, it closed at .USD, standing above the daily moving average.

Hotspot Interpretation

Yesterday, Greece and its creditors stuck to their respective positions, and the German European Commission reluctantly stated that it was time to prepare for a state of emergency. This means that talks aimed at avoiding a default by Greece and a possible exit from the euro zone broke down on Sunday. Affected by this, the Greek stock market plummeted by %, but the exchange rate of the euro against the U.S. dollar was not suppressed by this. The upward impact of the euro against the U.S. dollar actually increased. This reflects that the negative effect of the Greek news on the euro has basically been exhausted.

In terms of the US dollar, the latest monthly industrial production data released by the United States unexpectedly fell by .%, lower than expected. At the same time, the New York State manufacturing index fell to its lowest level in January. This shows that factors such as the strong U.S. dollar and energy industry spending cuts continue to constrain economic growth. U.S. manufacturing and mining activity remain weak. After the data was released, gold jumped sharply to an intraday high and the US dollar fell.

The market is most concerned about the Federal Reserve’s monthly interest rate meeting. Although the probability of the Fed raising interest rates at this meeting is extremely small. But the market will pay close attention to Fed officials' outlook on future economic prospects and their views on the timing of raising interest rates. The possibility of a rate hike will continue to be the focus of the meeting. If the tone of the Fed's decision is hawkish, gold is expected to suffer a heavy setback. On the contrary, the price of gold may spread its wings with the dove's wind.

Technical Guidance

Yesterday, the price of gold fell to the point where the US dollar broke through the hourly descending channel line, but was immediately recovered, indicating that this was a false breakthrough. At present, gold prices have returned to the downward channel again. This shows that the long-short battle has entered a fever pitch. At the daily level, the daily moving average crosses the daily moving average and is about to hit the daily moving average. At the daily level, the moving averages are not far apart. It shows that the long-short war is about to break out. At this time, it is recommended that investors should not enter the market rashly and try to watch more and move less. Observe the fluctuation range of the US dollar, sell high and buy low, carry out short-term operations with light positions, and strictly follow up and stop losses.

Silver bulls are looking to take action. At the hourly level, it has turned upward and is about to hit nearby suppression. However, the general trend is still bearish, and it is expected that it will be difficult to get a clear directional signal before the Fed’s decision is announced. It is recommended that investors still maintain range operations and pay attention to the US dollar. Sell high and buy low.