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On Monday, the first trading day of this week, gold prices opened higher and moved lower. After breaking through 1,710 US dollars in the Asian market and hitting a maximum of 1,712.09 US dollars, the European and American markets fluctuated and fell, reaching as low as 1,690.10 US dollars.
The price of gold has been adjusted for several days since last Friday’s big non-farm payrolls, but has never fallen below $1,690. On this trading day, the price of gold held the 1690 mark and fluctuated higher. The current spot gold price is at 1705.07 US dollars/ ounces ; the spot silver price is at 15.50 US dollars.
Domestic gold price conversion: Currently, Shanghai Gold T+D is quoted at 380.76 yuan/gram; Shanghai Silver T+D is quoted at 3,760 yuan/kg.
1, China April CPI
09:30 China April CPI annual rate previous value: 4.30%, expected: 3.70%, announced: 3.3%
China's April PPI annual rate previous value: -1.50%, expected: -2.60%, announced: -3.1%
Insights: In April 2020, the national consumer price increased by 3.3% year-on-year, which was smaller than expected. Among them, pork prices increased by 96.9%, affecting the CPI increase by about 2.36 percentage points.
html Inflation data for April fell sharply, with the CPI falling and PPI deflation increasing significantly.
2, Preview of the news
There are important data released this week, among which the US CPI data for April released on Tuesday and the "horror data" for April released on Friday require special attention.
1) Tuesday 20:30 U.S. monthly seasonally adjusted CPI rate in April
2) Wednesday 20:30 U.S. monthly PPI rate in April
Currently, the market expects the U.S. monthly seasonally adjusted CPI rate in April to be -0.8%, and recorded -0.4 in March %; based on some of the economic data released in April and the recent recovery in inflation data, the CPI will further decline in April. The evening focus will be on the difference between reported and expected values.
summary: The gold price has been adjusted for several days since last Friday’s non-agricultural work. It has never fallen below the $1,690 mark. At the same time, the resistance risk in the 1718-1747 area above is relatively high. It has only fallen back to around $1,690. The short-term gold fund is operational. smaller.
Today's evening strategy: In terms of spot, the initial rebound stage formed in today's Asian market did not break through the resistance of 1706. The important thing above is the breakthrough of 1712. The intraday gold price fluctuation range is only 10+ US dollars. Pay attention to the strength of the 1712 breakthrough in the evening, and mainly short on rallies.
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