In fact, spot gold has been rising these days, with a cumulative increase of about $37 in three trading days, so the price of gold in domestic gold shops remains high and it is difficult to fall.
In addition, the PCE price index and other data released last night are still poor, indicating that interest rate hikes have a restraining effect on the economy. Fortunately, Powell's dovish speech in the early morning strengthened the market's expectation that the Fed would slow down the rate hike, and finally let the market breathe a sigh of relief.
At present, the market pays more attention to the US 1 1 month PCE data and the ISM manufacturing PMI data released in the evening. According to market expectations, this is expected to provide further upward momentum for gold prices. In addition, there will be a report on non-farm employment in the United States in June 1 1 tomorrow night. The market predicts that the number of non-farm employees in the United States in June 1 1 may only increase by 200,000. If it meets expectations, it will be the worst performance in the year, which also provides confidence for gold bulls. You can pay attention.
Regarding the prospect of gold price, Carlo Alberto De Casa, an analyst at Kinesis Money, said that the situation of gold is improving, and it is in a consolidation stage. The market is also waiting to see and wait for further clarification from the Federal Reserve.
Generally speaking, the gold price failed to effectively break through the resistance around 1786 in the short term, and may continue to fluctuate widely. However, the gold price of domestic gold shops will remain at the current high price, and it is difficult to fall below 500 yuan/gram.
Please click to enter the picture description (maximum 18 words).