Today, the market will focus on the July CPI. If the data decreases, it means that inflation is well controlled, which will be beneficial to the Fed's interest rate cut, and thus beneficial to gold. On the contrary, if the data increases, it will not be beneficial to the Fed's interest rate cut. At the same time, it will correspond to the hawkish remarks of Fed Governor Bowman last weekend, which will be negative for gold. Of course, the above are only based on theoretical expectations, and the actual situation needs to be determined in combination with the specific market.
Gold technical analysis: From a technical point of view, the current daily structure breaks the four consecutive positives. The current price effectively runs above the short-term moving average and the Bollinger middle track. The short-term moving average is in a golden cross upward form, forming strong support at 2452 and 2433 respectively. The Bollinger band is flat as a whole. Other periodic indicators remain in a long arrangement. The MACD indicator golden cross red column continues to increase in volume. The KDJ indicator shows sufficient upward potential. Although the daily line is still dominated by bulls as a whole, the bulls have not shown strong upward potential. Therefore, the daily line needs to be prepared for the gold price to fall sharply at any time from a high level.
Today's short-term operation strategy for gold is to mainly short on rebounds and supplemented by long on pullbacks. The short-term focus on the upper side is the 2476-2477 resistance line, and the short-term focus on the lower side is the 2442-2445 support line.