Gold market analysis strategy
The release of the data has brought significant market fluctuations. PPI is an important indicator to measure price changes in the production process. It reflects changes in production costs and has a more far-reaching impact on the market. Initial jobless claims data provides the latest updates on the US employment situation from the perspective of the labor market and is an important reference for investors to judge the health of the economy. After the release of the US PPI data for January, the gold market has fluctuated significantly. Spot gold rose by $10, reaching a high of $2,917.61 per ounce, an intraday increase of 0.31%; although the PPI data did not have a greater impact on the market's expectations of the Fed's rate cut, the rising inflationary pressure it reflected still prompted investors to seek safe-haven assets such as gold.
Yesterday, gold fluctuated downward in the Asia and Europe sessions, and the price fell to a low of 2864 in the evening before starting a counterattack. As of today, it has risen to 2922. Judging from yesterday's trend, the first half of the session was running well, and there was a Jedi counterattack in the evening. At the same time, today's rebound high exceeded our expectations. Judging from the current market, the daily chart shows signs of a V. Yesterday's bottoming out and rebound directly limited the extent of today's adjustment. Judging from the trend chart, the volatile trend has not changed. Gold closed with a long upper shadow in the previous 4 hours. Gold is now under pressure at the top of the entity in the previous 4 hours. Gold has begun to stagnate. Gold is currently priced at 2920 in the US market, so go short directly!
Yesterday, gold fluctuated downward in the Asia and Europe sessions, and the price fell to a low of 2864 in the evening before starting a counterattack. As of today, it has risen to 2922. Judging from yesterday's trend, the first half of the session was running well, and there was a Jedi counterattack in the evening. At the same time, today's rebound high exceeded our expectations. Judging from the current market, the daily chart shows signs of a V. Yesterday's bottoming out and rebound directly limited the extent of today's adjustment. Judging from the trend chart, the volatile trend has not changed. Gold closed with a long upper shadow in the previous 4 hours. Gold is now under pressure at the top of the entity in the previous 4 hours. Gold has begun to stagnate. Gold is currently priced at 2920 in the US market, so go short directly!
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