Gold: Bargain on 1886

Fundamental analysis:

On Thursday (January 13), the US CPI increased by 6.5%year -on -year, in line with expectations, below 7.1%in November. Under the stimulus of slowly cooling CPI data, the short -term spot of spot gold plummeted nearly $ 14, and then quickly rose back quickly. It once broke through the 1900 mark, for the first time in May last year. In addition, the gold price fell again while the Philadelphia Fed Chairman Harker's speech, which once fell to below the $ 1890/ounce, and then rose, and eventually closed up 1.14%. The market has begun to reduce the Federal Reserve's expectations of two further interest rate hikes at several policy meetings in the future. The return on yields in US Treasury bonds has declined, the US dollar has weakened, and the gold -free assets have been supported by buying the market.

Spot gold xauusd 4 -hour chart

Technical analysis:

Looking at the 4 -hour chart, the price of gold appeared sharply at a high level, and once fell to near 1870 and then rebounded to the 1900 line. The trend still maintained a long pattern. At the same time, the amount of MACD can be continuously released in the zero axis. The show is expected to continue to strengthen. At present The support is moved up to 1886. If it breaks through the 1900 mark, it is expected to open a new round of space, target 1915-1930.

Resistance level: 1900.00 1915.00

Support bit: 1886.00 1870.00

Trading strategy: Bullies above 1886.00, target 1915.00 1930.00

Qualification Strategy: Watch the plunge under 1886.00, target 1875.00 1867.00