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On Thursday, gold prices continued the performance of the previous trading day and continued to rise. Amid mixed economic data, the U.S. dollar continued to be under pressure and fell, while gold prices were pushed to touch three levels. highest monthly level. After the opening of the Asian session on Friday, gold prices fluctuated around US$/ounce.
On Thursday, gold prices hit a three-month high of 1 yuan per ounce.
This week will be the biggest rise in gold prices this month. The main reason is that poor retail sales data on Wednesday caused the U.S. dollar to hit a three-month low, pushing gold prices sharply upward.
Data released by the U.S. Department of Labor on Thursday showed that the U.S. fell on a monthly basis, with growth expected and the previous value increasing. The core monthly rate fell, with growth expected and the previous value increasing.
In addition, the data also showed that the monthly annual rate of decline in the United States, both the previous value and the expected value, hit the largest annual decline since the beginning of the year. The annual growth rate of the monthly core producer price index was lower than the expected growth and the previous value.
The U.S. dollar index fell for a third consecutive session on Thursday and may have fallen for a fifth consecutive week this week.
On the other hand, data from the U.S. Department of Labor showed that the number of initial jobless claims in the United States decreased to the previous value after seasonally adjustment in the week to May. The data also said that the four-week average of the number of initial jobless claims in the United States dropped to a seasonally adjusted four-week average in the week to March, hitting the lowest level since January.
In Europe, Bundesbank President Weidmann condemned the European Central Bank on Thursday, saying that the continuous increase in the scale of emergency liquidity assistance to Greek banks broke the taboo on government financing. At the same time, the central bank itself cannot decide whether a country should remain in Eurozone.
Weidmann also expressed doubts about the European Central Bank's plan, saying that the European Bank's money printing plan is not necessary to stimulate the economy and fight deflation.
European Central Bank President Draghi said on Thursday that the ECB's asset purchase program has proven effective and low interest rates have not yet caused financial imbalances.
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