At the beginning of the market in Asia on Wednesday, spot gold hovered near the nearly one-week low that was set overnight. Currently trading is around the 1700 mark. The unexpected rise of the US CPI in August strengthened the Federal Reserve's expectation of at least 75 basis p

　　—Basics—

　　At the beginning of the Asian market on Wednesday (September 14), spot gold hovered near the nearly one-week low that was set overnight. Currently trading is around the 1700 mark. The unexpected rise of the US CPI in August strengthened the expectation of the Federal Reserve's interest rate hike of at least in September 575 basis points. Interest rate futures show that investors not only dispelled the expectation of the Federal Reserve's interest rate hike of 50 basis points in September, but also heated up the expectation of 100 basis points in interest rate hike. The US dollar index rose sharply from the low point in more than two weeks, recording the largest single-day increase in the past two years, which significantly suppressed the gold price.

　　Although the United States also fell sharply and the geopolitical situation in Russia and Ukraine continues to be tense, this still provides safe-haven support for gold prices, but at present, before the Federal Reserve's interest rate decision next week, gold prices are biased towards weakness and may fall again to support around 1680.70, a low of nearly one and a half years set in July. This trading day focuses on the US PPI data in August and the market's changes in the Fed's expectation of rate hike in September, and pay attention to news related to the geopolitical situation.

　　—Technical—

　　Gold was first affected by the US index and then rebounded, and then measured the pressure above 1730. In the evening, the U.S. inflation data was released. The higher than expected situation caused the market's expectations of the Federal Reserve continuing to raise interest rates sharply. As a result, gold plunged and fell to 1697 in a short period of time, with a drop of more than 30 US dollars. Although the market rebounded in the second half of the night, it was still in a weak decline overall. The daily line finally closed a large negative line, which broke through the 5- and 10-day moving averages.

　　The sharp drop in gold overnight is not entirely affected by fundamentals. It is technically under pressure on the 20-day line, and the previous short-term oscillation and recovery band has also been completed, which is more obvious on the hourly chart, and the rebound of bulls has made room, which is also the reason for the short-term plunge of gold after the overnight inflation data was released. At present, the fundamentals are basically fixed and downward and revision trend. According to previous expectations, gold may undergo a third wave of downward and correction at the band level. If the market sentiment is too high, it may stop in the 1690-80 area and be volatile and digested to wait for the Federal Reserve interest rate decision next week. If we follow the technical trend, we still look forward to the previous expected big target 1660-50 retreat.

　　Combined with the hourly chart trend, gold fell overnight and pierced 1700 and rebounded. The market also gave the first rebound high point near 1710 after the sharp drop. This is also the current pressure level of the 5 and 10-day lines, so this level can be used as a short-term pressure level in the future. As long as the market does not return to it, the overall situation will be short, and the operation will be mainly short-short. Below the day, we will first pay attention to the 1695-90 area retracement. The reason why 1700 is not paying attention to it is because the overnight market and this morning, there has been a puncture on 1700, and the supporting effect has been greatly reduced. In theory, the 1695-90 area, as the previous low point area and the trend line connecting the low point, will provide a certain support effect, but at the level of this support band, it is only a temporary effect of delaying the decline. If the market's expectations for interest rate hikes gradually increase in the later stage, then 1690 is also allowed to fall below. At that time, 1680 can be used as a reference for the next wave of low points. In terms of operation, the main idea of ​​intraday gold is to choose high and short short positions. If you already have short positions, try to keep short positions in bands as much as possible. However, for long positions, the risk is extremely high, so if it is not a key support level, do not blindly participate and fight long positions.

　　① If the market intraday is retreated to the 1695-92 area for the first time, you can try to go long. The stop loss is placed in 1688. The target is 1705-1710, and the position is reduced first and the capital guarantee stop loss is reduced first.

　　②If there is a breaking 1710 above the day, then go long by stepping back to 1700-1703, stop loss is placed at 1695, and the target point is above 1715;

　　③If the market fluctuates before 1700, it will rebound. , then short short around 1708/1710 above, stop loss above 1713 in the unified area, look at the target below 1703-1700 to reduce positions and change to guaranteed stop loss;

　　I am Xiaoyuan Jin [官网yuan] . If you have anything you don’t know, you can follow me at any time. This article is exclusively written by Jinyuan. Investment is risky and trading should be cautious. It is a fool who rashly enters the market, but it is a wise who finds the right person.A small boat drifts in the sea, and if you don’t set sail, you will drift in the sea forever. Each analysis is not an emotional game or an emotional release. Every opening and closing position is a professional performance. Jinyuan carefully wrote each analysis report and conveyed valuable investment ideas, hoping to get the most value for money and gain something.