Yellen re-raises inflationary pressures, U.S. bonds retreat, gold rebounds

A brief analysis of the fundamentals:

On Tuesday (June 7), U.S. Treasury Secretary Yellen said that due to the influence of the situation in Russia and Ukraine, she once again admitted to misjudging the inflation situation, pointing out that the United States is currently facing huge inflationary pressures, and inflation is the most important economic issue at present. Affected by this remark, U.S. bond yields fell, and gold rose to $1,850. On the one hand, high inflation will stimulate the Fed's demand for interest rate hikes, and on the other hand, it will be good for gold, which has anti-inflation properties. At this stage, after the Fed's expectation of aggressive interest rate hikes has been released with the good non-agricultural economy, high inflation will stimulate gold. start to return to the market

Spot Gold XAU 4-hour chart

A brief technical analysis:

From the 4-hour chart, the spot gold rebounded after gaining support at 1836, and rebounded again to around the median line of 1836-1867 at 1850. Before the box interval of 1836-1867 broke, the gold trend was difficult to confirm, and the operation was still based on the idea of ​​shock. Looking at it, the high altitude and low altitude are the main factors. Only after breaking through the sideways range can we enter the direction of a new stage in the follow-up.

Long-short turning point: 1850

Resistance: 1858.00 1867.00

Support: 1840.00 1836.00

Trading strategy: bearish below 1850.00, target 1840.00 1836.00

Alternative strategy: bullish above 1850.00, target 1858.00 1867.00