Gold peaked and fell back on 4.11 in line with expectations!

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On Wednesday (April 10), the latest data showed that a measure of U.S. underlying inflation exceeded expectations for a third consecutive month, indicating that continued price pressures may delay the Federal Reserve's interest rate cuts until later this year. The U.S. non-seasonally adjusted CPI annual rate in March recorded 3.5%, higher than the expected 3.4% level, the highest level since September 2023, while the monthly rate remained unchanged at 0.4%; the core CPI annual rate recorded 3.8%, higher than expected of 3.70%, and the monthly rate remained at 0.4%. After the data was released, spot gold fell sharply by more than 20 US dollars in the short term, and is now back near the 2,340 US dollar mark; the U.S. dollar index rose by more than 80 points in the short term. This CPI report may shatter the illusion that the inflation reports in the past two months are "outliers" . Bets for a rate cut by the Fed in June have all but disappeared after data showed higher-than-expected inflation, and even the outlook for July looks more shaky.

The U.S. Federal Open Market Committee (FOMC) will release the minutes of its March monetary policy meeting. The minutes will cover FOMC officials' discussion of economic growth and inflation expectations and, while unlikely to contain breakthrough information, will provide market insights. Of note for gold prices will be the minutes from the Federal Reserve's March meeting, which may shed light on Fed policymakers' views on the future path of interest rates. A series of speeches from Fed officials Goolsby, Bowman and Barkin will also keep gold traders busy. The gold market remains jittery as volatility in North American markets is expected to intensify later on Wednesday.


Gold technical analysis: Gold opened and closed after the U.S. market. During the day, short orders near 2258 were issued and profits fell to 2320 as expected. In the evening, Cpi was completely negative. This will give the market a shot in the arm of short adjustment. Data released After that, gold fell rapidly, reaching the lowest level of 2319. The market will then be relatively simple. Falling below 2338 means that the market has begun to transition from extremely strong to weak. The 2345-50 area, the key resistance in the early stage of the rebound, can still be deployed at high altitudes. The current market The rhythm is very fast, the market amplitude is intensifying, firm the band to see the adjustment, return to the early trading title, whether the breakout can be continued in the evening is the real key, pay attention to the gains and losses of the 2320 line;

The price of gold currently falls below the previous high shock range on the 4-hour trend, and the short-term moving average has gradually begun to diverge downward. Currently, the K-line continues to be under pressure and the short-term moving average maintains a weak operating trend. After a rapid bottom-out rebound, the current price has begun to touch near the early pressure zone, which tends to have room for continued correction in the short-term trend. The minutes of the Federal Reserve meeting will be released in the early morning. The market tonight is destined not to go too low. I hope all investors will pay attention to risk control.



Looking at the 1-hour level: This downward trend in gold prices is currently touching the upward trend line. Although the decline is accompanied by a rebound, compared with the previous unilateral upward move, the rebound is not as strong as the previous one. For late trading operations, refer to the short order opportunities near 2340-45. On the whole, today's short-term gold operation thinking is Jin Shengfu's suggestion to mainly go short on rebounds, supplemented by longs on callbacks. The top short-term focus will be on the 2340-2345 first-line resistance, and the bottom short-term focus will be on the 2300-2303 first-line support. Friends, you must keep up with the rhythm. . It is necessary to control positions and stop loss issues, set stop losses strictly, and never resist orders. The recent market turmoil has been relatively large, and opportunities and risks coexist. Control risks and gain profits.

4.11 Gold operation strategy reference:



Short order strategy:


Strategy 1: Short sell (buy or sell) two-tenths of the positions in batches near 2340-2343 when gold rebounds, with a stop loss of 6 points. The target is around 2330-2320. If the position is broken, look at the 2300 line;



Multiple order strategy:



Strategy 2: Buy long (buy up) two-tenths positions in batches around 2300-2303, with a stop loss of 6 points. The target is around 2310-2320. If the position is broken, look at the 2330 line;
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