Judging from the current exchange rate trend of the pound, after nearly three months of depreciation in the previous period, the pound temporarily bottomed out in the short term, so its contribution to the appreciation of the dollar has weakened, and there is less short pressure on the gold price. In addition, recent polls show that the proportion of people who support staying in the EU is slightly higher than the proportion of people who support leaving the EU, so there is no sharp sell-off in the market.

If in the next month, the poll shows that the proportion of people who support leaving the EU increases, then the pound may be under pressure again, the dollar index will climb, and the price of gold will fall.

In addition, the Federal Reserve will hold interest rate meetings on June 14 and June 15. Prior to this, the precious metals market will focus on the Fed's decision to raise interest rates, so the market tends to be weak.

Once the Fed decides to raise interest rates, the gold price will be under pressure for a short time, and if the pound continues to depreciate within the time window from June 15 to June 23, the short-selling pressure on the gold price may increase.

From the time point of view, before the Fed holds a meeting, the market first considers the influence of the Fed. After the Fed meeting, the market will consider the impact of Britain's withdrawal from the EU referendum on the gold price according to whether the Fed raises interest rates.

No matter what the news results are, June is destined to be a month with relatively high financial risks in 20 16. I hope investors can control risks in advance.