Why does the price of gold fall?Or will test this support position

On July 11th, the US Consumer Price Index (CPI) data that received the market in June (CPI), which has attracted much attention from the market, finally settled down and burst into table again. Data show that the annual rate of CPI in the United States has not been adjusted by 9.1%, the previous value is 8.6%, and the expected value is 8.8%. The CPI reached a new high and exceeded the market expectations. The data explosion table also made the market believe that the Fed will raise interest rates of 100 basis points in July. After the data was announced, the price of gold broke out, but the multi -headed power was insufficient. However, in the past few trading days, the Digital Federal Eagle officials had cool down the expectations of 100 basis points in interest rate hikes. Many officials tended to raise interest rates 75 basis points. The market's expectations for the Fed's 100 -basis point in July in July. Since the announcement of CPI a few days ago, nearly 80%, plunged to 30.9%.

International gold price trend in mid -May to mid -July

Text | Recruiting Gold Refined Luan Bingqin

This article is an original article of China Gold Network. The content is for reference only, and does not constitute operating suggestions or investment guidelines.

As of the beginning of July 9th, the United States invited 244,000 unemployed gold, with a previous value of 235,000 and a expected value of 235,000. The number of applicants for unemployment has risen and interest rates have continued to rise. People are increasingly worried about the decline in the US economy, but this has not shaken the Federal Reserve to further curb the high inflation over decades through a greater interest rate hike. On the whole, at least before the mid -term elections in the U.S. Congress in the second half of the year, the Fed will continue to maintain an eagle position to fight inflation. At the beginning, the number of unemployed funds will continue to take risks in the future.

The price of international gold has fallen endlessly, and it once fell below $ 1700/ounce, and the lowest exploration to nearly $ 1697/ounce was hit for a new low since August 9, 2021. The continuous rise in the US dollar index has continued to decline in gold prices.

In terms of capital flow, as of July 16, 2022, the world's largest gold ETF holding volume was 1014.28 tons, a total of 8.99 tons, and the world's largest silver ETF holding volume was 15876.57 tons, a total of 226.61 tons of positions, which reduced positions for several consecutive weeks. The funds continue to flow out and continue to provide energy for shorts.

Technical aspect: In terms of the K -line, the Bollinger belt continues to open downwards, the moving average is arranged short, and the different moving moving average (MACD) green column has a slowdown. Run, the K -line is currently running near the Bollinger rail. The gold is oversold. If the price of gold can be supported at $ 1700/ounce, it is expected to bottom out in the short -term. It will seek support near $ 1680/ounce.

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