How to judge the trend of gold
1. Supply and demand: Gold is a commodity with specific value, so it will also be affected by changes in supply and demand. When the price of gold rises, people's demand will be greatly reduced and the supply of gold will be greatly increased;
2. The trend of the US dollar: The relationship between gold and the US dollar is negatively correlated. When the dollar begins to appreciate, the price of gold will fall; On the contrary, when the dollar begins to depreciate, the price of gold will rise, and gold can play a very good role in maintaining value;
3. Cost forecast: Gold is relatively rare, and its own value corresponds to the price of gold, and usually does not deviate too much. The value of gold is very obvious when the market economy is depressed.
Latest gold market analysis
In the Asian session on Friday, 1 19, spot gold remained stable around 1859. On Thursday (165438+1October 18), the price of gold fell slightly, as the number of initial jobless claims fell to the lowest level in 20 months, which strengthened the market's expectation of the Fed to raise interest rates in advance, but the strength of the US dollar limited the decline in the price of gold. Inflation remains the focus of investors' attention. William, governor of the Federal Reserve Bank, said that inflation has become more and more common in the United States, and expectations of future price increases are also rising. Policymakers will pay close attention to this trend. Last week, the number of initial jobless claims in the United States fell to near the pre-epidemic level, and the labor market continued to recover, but the shortage of workers still hindered the acceleration of employment growth. At a time when global inflation is soaring, the expectations of central banks to tighten policies are divided, pushing the dollar soaring. Analysts said that the dollar rose across the board, and now the market will take a step back to assess whether the inflation theme really continues at the speed that everyone thinks. On the whole, the price of gold continues to fluctuate at a high level. There are not many important economic data released this week, and gold prices may still be dominated by shocks in the short term. You can pay attention to the retail data of Britain and Canada in the next few days.
From the technical point of view of gold, gold surged back to a low level yesterday, with the highest pressure reaching 1770.80.