During the intraday European session, the spot **continued** trend and is currently trading near $2035 an ounce. In the last session, affected by the retreat in the dollar index and U.S. Treasury yields, ** once approached the $2,040 mark. Although the short-term pressure has been affected by the hawkish signals of the Federal Reserve in recent days, the market still believes that the Fed rate cut is a certainty, and in the context of ongoing geopolitical tensions, it will remain the top choice for investors.
On Wednesday (February 7), the spot ** opened at 2035$63 ounce, as of press time, spot ** temporarily recorded 2034$71 an ounce, down 007%。
The first week has been hit by the strengthening of the US dollar after the strong US jobs report and the frequent hawkish signals from the Federal Reserve in this week's speech, shattering hopes for a rate cut in March.
George Milling-Stanley, chief strategist at State Street Global Advisors, said any weakness in performance could be due to "regular reports on the U.S. economy and unemployment rate that remain stronger than many commentators."
He said there were no "signs of an economic slowdown that many expected" and that Powell continued to emphasize his message that the Fed is in no hurry to start cutting interest rates.
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All of this has led traders and investors to downgrade their expectations for when the Fed will start cutting interest rates, and the higher rates are seen as "increasing the opportunity cost of investment." "Resulting in the price of gold**.
Today's disc:
After the 1:1-hour strong reversal, it is temporarily a sideways anti-falling trend, and the 1-hour bias is to rise upwards and continue, testing the position of 2038 above and below, but it is expected that 2038 should be unstoppable, and the high point should still be;
2:4 hours, the stochastic indicator stepped back on the signal of the golden cross, and the golden cross was the main signal upward; Although the upper pressure is suppressed on the central axis, this indicator has signs of stepping back, therefore, the bias continues to run upward, and I am personally optimistic that the ** will continue to run upwards here; You can refer to ** long; Today's support is around 2030.
3: In the daily K, the gold price remains in the range of BOLL, shrinking and running! The first few days are **down, and these days are biased**upwards, so you can choose to follow up more.
To sum up: choose to go long today. The reference position is the 2035-2030 range, and the opportunistic layout is long. The pressure position is around 2040, followed by the pressure position of 2048 50 here;