On Friday (June 2), gold futures opened at US$1,977.77/oz on this trading day, reaching as high as US$1,977.99/oz, and hitting as low as US$1,973.83/oz. As of press time, it was tentatively at US$1,977.16/oz, a decrease of 0.01%.
Although the U.S. House of Representatives passed the debt ceiling bill to boost risk appetite, the latest remarks by Fed officials led to a reversal of expectations for a rate hike in June. The Fed must strike a compromise between inflation concerns and fears of an economic slowdown, as the U.S. debt ceiling bill passed the House of Representatives, aimed at suspending the government’s borrowing limit and avoiding an unprecedented debt default. The bill will go to the Senate for a vote. However, the U.S. dollar index rose and fell back, failing to break through the overnight high of 104.702 since March 16, supporting the renewed strength of gold prices.
Political risks in the United States may continue to increase the attractiveness of gold. Gold continued to fluctuate weakly on Thursday, and fell again around the European market due to the change in the U.S. index. However, it did not form an effective breakout. It stopped and rebounded at the 1953 line, and the U.S. market returned to run above 1960 again, and it also returned to a strong technical trend. However, judging from the linkage performance of gold and the U.S. index within the day, the confidence in gold’s rise is obviously shaken by the recent disorderly fluctuations in the U.S. index. Although gold technically sees a short-term rebound, whether it can rebound or not depends on the Refers to whether to adjust to decide.
Gold successfully fell below the shock bottom of 1950 last week, and the lowest has touched around 1931. This is the second time it has been touched. This is because the downside risk has intensified, but the decline did not continue. Instead, it ushered in a unilateral rise. The market rebounded against the trend to around 1975, which shows that gold’s resistance to falling is relatively serious. This wave of rebound is completely against the trend. At present, the bulls continue to see gold above 1950. The price has repeatedly fallen to the low level and direct bulls intervene. The price fell in the European market. Feng Zhijin It is also given directly around 1955, and the early layout of the bulls is also a short-term high in 1957, both of which are profitable. At present, the first hurdle of long and short above is to pay attention to 1975 again. Breakthrough, the bulls will test the double pressure again in 1985. After the breakthrough, directly look at the bulls In 2000, it touched around 1973 again to test the shortfall once again, and the stop loss was 1978.
