Daily Gold | 1700 US dollars below!

Guest: Gold Investment Analyst Wu Di

In terms of fundamentals, the overnight cost of euro fluctuations soared to the highest level since 2016. Investors are preparing for the possibility of raising interest rates, and this time it may also provide details of the central bank crisis tools.

The hedging cost has recently risen because the news said that the European Central Bank may consider 50 basis points in interest rate hikes. This is a new turning point facing the market facing the market when the political crisis and the prospect of natural gas shortage may lead to the decline in the European economy. The market is generally speculated that officials will reach an agreement to prevent their unnecessary selling in the bond market in the euro zone in the euro zone in the past ten years. Failure to reach market expectations may cause severe selling of Italian bonds, and even leads to another debt crisis in the region. At the end of the day of the European Central Bank's interest rate resolution and the press conference held by the European Central Bank President Lagarde.

From a technical point of view, the price of gold continued to oscillate down, falling below the $ 1700/ounce integer mark, and the minimum test weekly supported $ 1691/ounce nearly stopped falling. On the whole, the trend is still in the short model, but the hourly chart shows that random indicators have entered the oversold area, and the gold price may rebound in daily daily. Do not shortly short.

Continue to pay attention to the support of $ 1690/ounce. If the price of gold falls below the position, the support will be adjusted to nearly $ 1670/ounce. In terms of uplink, the resistance focuses on nearly $ 1738/ounce. If the price of gold is effectively broke through the position, the resistance is adjusted to nearly $ 1765/ounce.

- END -