Daily True Gold | The current market is long occupied a certain advantage

Guest: Gold Investment Analyst Wu Di

In terms of fundamentals, the July CPI data released in the United States last night was lower than expected. Inflation and cooling eased the pressure of the Fed's continued rate of interest rate hikes. Investors now expect that 50 basis points will be greater than 75, not 75, not 75 A basis. However, before the Fed has stated that before slowing its implementation of its radical monetary policy, it is necessary to see that CPI has declined for months.

For CPI data below expected, the two Federal Reserve officials said that this will not shake the Fed's upward direction of interest rates this year and next. After the data was announced, according to the CME Fed observation: The probability of 50 basis points in the Federal Reserve in September was 57.5%, and the probability of 75 basis points in interest rate hikes was 42.5%. The probability of the cumulative rate of 75 basis points in November was 16.4%, the probability of accumulating a total of 100 basis points was 53.2%, and the probability of the cumulative interest rate hike was 30.4%.

From a technical point of view, the price of gold continues to maintain an oscillating upward trend, which has dropped slightly after rushing to $ 1807/ounce, indicating that there is still greater resistance above the $ 1,800/ounce. In terms of uplink, resistance continues to pay attention to $ 1815.2/ounce. In terms of downward, we pay attention to the support of $ 1774.6 per ounce this week.

At present, the price of gold is still operating above the watershed, so the current market still has a certain advantage. The market may remain in the two days after this week. In terms of operating strategy, it is still based on the trading and strict stop loss. The above suggestions are personal views and are for reference only.

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