Important news:
A survey report released by the Supply Management Association (ISM) showed that the manufacturing situation in the United States that was hit by interest rate hikes was good, but the risks brought about by rising raw material prices still existed.The US manufacturing industry has been recorded for a year and a half for the first time. Due to the sharp rebound of production, the new orders have increased, but the employment status is still sluggish. The "large -scale layoffs" have appeared, and the price of investment has also increased.ISM said that the manufacturing purchasing manager index PMI rose from 47.8 in February to 50.3, the highest since September 2022. The first time it exceeded 50. The manufacturing industry accounts for 10.4%of the total US economy.A monthly shrinking slump.This is the longest duration cycle after August 2000 to January 2002.The PMI value exceeds 50 indicates the expansion of the manufacturing industry.The current manufacturing activities are suppressed due to rising loan costs.
The growing interest rate cuts are expected to be purchased by central banks under the situation of risk aversion and geopolitical tensions, supporting long -term gold bulls.
Variety analysis:
Gold: On Monday, the gold market rose high. Earlier, after the PCE data of PCE data earlier last Friday, the market expected to raise interest rates in the Fed in June. The price of gold once refreshed a historical high of 2265 US dollars/ounce.However, the market then vomited the gain, just as the market said yesterday after digesting the data last Friday, the multi -profit ending, and the PMI data returned above the 50 mark yesterday night, the market's expectations for interest rate cuts in June fell.Rising, the end of the gold price narrowed to 0.8%.
Technical aspect:
In general, gold is still in the long market. At present, all cycles are bulls. At the same time, gold has been at a historic high for a while.The pressure above the spot gold is 2257-2265, and the lower support is 2237-2225-2210.
Gold Futures Popular Operation
CMX gold main contract supports 2258-2250-2238 below. The operational price is falling to the support line. If there is a clear K-line reversal combination appear and the transaction volume is magnified, you can enter a number of orders and stop loss in the previous one.The kick is the lowest, and the above target looks at 2277-2287.
Gold Futures short operation
The pressure above the main contract of CMX gold is 2277-2286. If there is a clear K-line reversal combination under the pressure point and the transaction volume is large, it can be involved in the empty order., Observation to 2250-2238.
