Non-agricultural data is excellent, gold hits new highs
Friday's U.S. non-farm data showed that the U.S. labor market is still strong, with the number of jobs increasing more than expected to 303,000, and the unemployment rate also falling from 3.9% to 3.8%. Fed Chairman Powell also said that he would not rule out raising interest rates later or later. , the overall tone is once again hawkish, and the market also expects that the probability of the Federal Reserve cutting interest rates in June has declined. However, the current geopolitical situation is changing rapidly and market uncertainty is still very strong, so we need to be cautious about the emotional market.
Looking at the trend of gold, after hitting 2300 last week and failing to stand firm, it first fell sharply to around 2268 in early trading last Friday and then stabilized and stretched rapidly. The European market reversed around 2295 and was under pressure. After the non-agricultural data was released, the lowest fell back to around 2280. It stopped falling again. As the war between Russia and Ukraine resumed, gold stretched again strongly despite the pressure of good non-agricultural data. After standing above the 2300 mark, it broke a new high and once touched around 2330 in the evening. In early trading, due to progress in negotiations over the weekend, The risk aversion sentiment fell slightly due to the large-scale withdrawal of troops. Gold opened lower and fell back to the 2302 line. Then it went to extremes and stretched the market for the second time. The current highest point is the 2353 line, which is another historical record. The performance is very strong and is also a typical extreme emotional market. , the negative news does not fall but raises new highs, does not rule out the washout of capital, and is optimistic about the general direction. At present, we should pay attention to the adjustment of the emotional subsidence after the big rise, and pay attention to the support of the 2300 mark.
gold:buy2321-2326
tp:2336-2331
sl:2316
Comment:
Gold will continue to rise
Comment:
The gold 4-hour chart is rising at the tail end, and the market is still strong.
Comment:
Gold prices rose to a record high for a seventh straight session, with analysts predicting the move could be driven by strong demand from Asian central banks despite traditional headwinds from a stronger dollar and rising interest rates. As of publication, spot gold fell slightly by 0.02% to US$2,329.12 per ounce, having previously hit a record high of US$2,354.07.
Comment:
Follow my signal. Good profit today