During the Asian session on Friday (January 13), spot gold fluctuated slightly and was currently trading around $1,893 per ounce. Although overnight data showed that the growth rate of US inflation slowed down, the market increased expectations for the Fed to reduce interest rate hikes , the U.S. dollar index fell to a new low in more than seven months, helping gold prices rise to a nearly eight-month high, but the current 1900 integer mark is still suppressing gold prices, and Fed officials emphasized their determination to fight inflation and said they may maintain higher interest rates for a long time. Investors need to beware of the risk of a short-term pullback in gold prices.
This trading day focuses on the initial value of the University of Michigan’s consumer confidence index for January in the United States and the speech of Philadelphia Fed Chairman Harker. At present, the market’s expectations for the consumer confidence index are relatively optimistic, and the market’s expectations for a soft landing of the US economy have warmed up. It may suppress the price of gold.
Daily level:Unilateral rise; the moving average is close to the bulls, MACD golden cross, the bulls have the upper hand, if they can break through the resistance near the 1900 mark, it is expected to further explore the resistance near the April 29 high of 1920, the resistance is relatively strong, short-term further It is more difficult to break through, and the price of gold may usher in a high and volatile trend at that time; in addition, there are also some resistances around the May 5 high of 1909.73.
In addition, the KDJ has already run to the overbought area. The 1900 integer mark temporarily suppressed the gold price more obviously. The short-term gold price faces a greater risk of a callback. The high point support on January 11 was around 1886.50, and the initial support was around 1882.20 on the 5-day moving average. Weekly The four lows are supported around 1873.22, and the 10-day moving average is supported around 1862.64. If this support is unexpectedly lost, it will increase the short-term peak signal.
resistance:1900.00；1909.73；1920.00；1936.60；
support:1886.50；1880.00；1873.22；1862.64；
Suggestions for short-term operation:Conservatives wait and see; radicals are cautious about short-term rallies, and cautious long-term bargain hunters.