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Gold high shock, patiently waiting for news guidance

2017-05-04

With news gold, international gold rose moderately on Tuesday, the highest intraday hit 1350. Evening market will usher in the United States in July, CPI and other economic data, the Fed will provide guidance signals for interest rates during the fed. Silver rose slightly, reaching an average of $20 an ounce, up 0.5% overnight.

Message surface:

BMI Research, a Fitch research firm, said in its report Monday that its core view of metal prices was stabilizing in 2016 and then gradually rebounding. At the same time, China's further stimulus measures pose a critical upward risk for its metal price forecasts.

BMI Research said, "China's overweight stimulus will push metal prices up for the next 6-12 months, and exacerbate the risk that prices will fall in 2017 as the impact begins to recede."."

The data is worse than expected, is expected to reduce the recent Fed rate hike, the dollar index on the defensive. San Francisco Fed President Williams (John Williams) said that the persistent low interest rates may lead to future recession more severe and more difficult to avoid, and the federal government needs to put forward a new policy to cushion the impact on the economy caused by low interest rates.

The BoJ's policy review could discuss the expansion of base money through massive asset purchases.

According to the survey, British employers have been more cautious about hiring, and British house prices have fallen by the most since late 2015. The survey also corroborated the British exit after the British economy kekebanban.

Monday, the U.S. Securities and Exchange Commission (SEC) regulatory documents show that in the second quarter of gold prices rose to a two-year high, the Soros fund management company (Soros Fund LLC Management Fund) slashed gold holdings.

Soros's fund, three years after its absence, returned to the world's largest gold listed trading fund (ETF) - SPDR Gold Trust - in the first quarter of this year, then slashed its holdings in the second quarter.

The global financial giant Soros (George Soros) on SPDR Gold's fund Trust holdings by the value of 123 million 500 thousand in the first quarter of 1 million 50 thousand shares, 240 thousand shares fell to $30 million 400 thousand, $.

File and display, Soros also slashed to Barrick Gold Corporation (Barrick Gold Corp) Holdings, 2016 from 19 million 400 thousand shares to 1 million 70 thousand shares, worth $2290.

At present, investors are most concerned about the upcoming July U.S. macro data. The market is expected to CPI data will weaken to some extent, the core CPI may still maintain 2.3% annual rate unchanged. Meanwhile, industrial production data are expected to fall to around 0.2% in July. Once the Fed interest rate increase is expected to change over the next year, the gold market is bound to set off waves. This is an expected bad news, and the United States in July new home some of the other data, news is the impact on the market need to determine support and resistance, when the data after at least I have at the end.

Technical aspect:

On the daily line, in recent trading days, the price of gold basically continued at $1330-1360 between shocks, we can see that the triangle continued to converge. MACD index on green energy column shrink slightly, Sicha, KDJ index down, but the medium-term risks remain tilted upward; from the 4 hour chart, the short-term price of gold may continue shock, triangle behind may not last long, the shock will appear more breakthrough! But the operation is not eager to order, like Joia disc or not long afternoon today, U.S. Chonggao empty single layout, or temporarily in accordance with this idea and rhythm to the layout, the main look after the break the continuity and the magnitude of step back, if continued after the break after the whole disc, then stepped back a 1343/41 can be considered to do more, stop 5/6, target to see 1350 - 55 line.