The inflation index was released last night. Data from the U.S. Bureau of Labor Statistics showed that the U.S. CPI rose by 3.2% year-on-year in October, slower than September's 3.7% and lower than the expected 3.3%. The QoQ growth rate slowed from 0.4% in September to 0, which was also lower than the expected 0.1%.
The Fed is more concerned about core inflation excluding food and energy costs, which slowed slightly to 4% from 4.1% in September. It was also lower than the expected 4.1%, but it was still higher than the Fed's 2% target level, and the QoQ growth rate slowed from 0.3% to 0.2%, which was lower than the expected 0.3%.
Obviously, the U.S. CPI in October exceeded expectations and cooled comprehensively, and core inflation fell to its lowest level in two years, consolidating the market's expectation that the Federal Reserve has completed raising interest rates, and betting on the range of interest rate cuts next year has increased expectations.
Today, we should also pay attention to the published PPI data and retail sales rate data. From the perspective of market expectations, it is not optimistic, and the overall trend is downward.May cause gold to continue to rise
Today's market may be the same as yesterday, but the rapid rise in Asian and European markets is not a good phenomenon. The rapid rise may lead to insufficient gold's rise.
Judging from the chart, it is still an upward trend
We need to pay attention to the upper resistance point range:
1974-1979
1985-1990
Pay attention to the range of support points below:
1960-1965
1955-1959
If gold reaches the resistance range for the first time before the data, you can choose to sell and strictly set the stop loss. If gold reaches the support range, you can also choose to buy.
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After reaching the resistance range, it fell. It is now 1970, but the downward trend is not obvious. You can reduce your position to ensure profit.
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Gold did not break through the resistance range, and the US data is also unfavorable for gold. If it rises again, it can still be sold.
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Gold fell again, you can reduce your position in 1950-1955 to guarantee profit
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