Market interpretation: On Thursday, April 25, during the Asian session, spot gold fluctuated within a narrow range. The price of gold stabilized above the 2,300 mark on Wednesday, closing at $2,315.80 per ounce. The risk premium caused by tensions in the Middle East has eased, and investors are paying close attention. U.S. economic data will be released later this week, which may provide clues on the path of the Federal Reserve to raise interest rates.
Gold and silver markets are correcting as conflicts in the Middle East deescalate.
The key question is whether these corrections will turn into a near-term downward price trend, thus signaling that a market top has occurred.
Market focus has returned to economic reports and the Federal Reserve. If the inflation data is too hot, it will be more difficult for the Federal Reserve to cut interest rates.
The main economic focus this week will be the first-quarter gross domestic product (GDP) data released on Thursday and the March personal consumption expenditures (PCE) price index due to be released on Friday.
Previously released consumer price inflation data for March were higher than expected, causing people to postpone expectations for when the Federal Reserve will start to cut interest rates.
Traders now expect the most likely date for the Fed\’s first interest rate cut to be September.
Gold technical analysis: Gold fluctuated slightly yesterday and closed at the mid-yin line during the day. Generally speaking, it is in a weak retracement situation. The upper pressure area remains near 2332-35. The daily line is currently at the end of three consecutive negative lines. In the short term The moving average has gradually formed a suppressed form. For the long and short sides, it is very likely that a new shock range has been formed. This action is also to correct the energy retention problem caused by the recent long and short fluctuations. In the short term, The area is also roughly maintained in the 2300-2335 range. At present, we still need to be patient and wait for the shock. At the same time, the European market is also a clear direction indicator. If the European market is weak, then short the US market and wait for the second retracement of the US market. In the short term, the hourly line is also A box arrangement will be formed, and this box is just a kind of energy that breaks through unilaterally in the later stage of accumulation. However, at the same time as the arrangement, there will also be a series of range oscillations, so it is very likely that there will be a series of dishwashing actions. , then the upper edge of the box is the point where we will continue to short in the near future. Personally, I believe that the consolidation trend target is expected to continue to retrace and correct, so it is recommended to maintain short selling around 2330-35 for intraday operations, with the target of 2310 Near -2300, the loss is 2340.5. Silver technical analysis: After the opening of silver yesterday, the market first rose to a first-line high of 27.48 and then quickly fell back. The lowest was settled around 27.01. The daily line finally closed around 27.15 in the form of an inverted hammer with a long upper shadow line. line, then today\’s market will continue to consolidate. In today\’s operation, it is recommended to rebound 27.4 short, stop loss 27.55, and the lower target is 27 and 26.8.
