The fundamentals of gold

Recently, US bond yields have declined, gold prices have risen, and the two sides have returned to a negative correlation. Central banks around the world continue to increase their gold reserves, which may further support the price of gold. We are concerned about the impact of the Fed's policy on gold and the geographical situation in the Middle East. We also need to pay attention to the minutes of the Federal Reserve meeting early tomorrow morning.

Federal Reserve Governor Waller: Weak inflation data for the next three to five months will allow the Federal Reserve to consider cutting interest rates by the end of the year; there is no need to raise interest rates right now. Federal Reserve Vice Chairman Barr reiterated the need to maintain high interest rates for a longer period of time. Atlanta Federal Reserve Chairman Bostic: To ensure that inflation does not rebound, interest rates are not expected to be cut until Q4.

According to FEDWATCH, the Federal Reserve is expected to cut interest rates by 25 basis points in September by 50%, and interest rates may drop to 5.25% at the end of the year.

ECB President Lagarde: I'm very confident we've got inflation under control. If the inflation path remains the same, it is very likely that the ECB will cut interest rates in June.

According to CNN, three sources familiar with the negotiations said that Egyptian intelligence quietly changed the terms of the cease-fire agreement Israel had signed earlier this month, ultimately ruining the agreement.

The technical side of gold

Analysis of key points on May 22

The key points of the 240-minute GMA-gold fluctuation trajectory indicator are 2408, 2412, 2426, and 2431. You can pay attention to changes in the fluctuation trajectory near these positions. The fluctuation trajectory of gold is calculated based on the calculation of volatility. In volatile markets, it can be reversed if it touches the trajectory! Focus on the positions of the 1.5x wave trajectory and the 2.5x wave trajectory.

Gold 60-minute chart (May 22, 14:48)

The key point of the 60-minute GMA-10W long and short indicator is 2420. You can pay attention to changes in the 10W long and short indicator near these locations. The 10W long and short indicator is a trend tracking indicator. When the fast line crosses after the slow line changes color, then the trend is confirmed. The location where the fast line changes color requires special attention, and whether there are any layout opportunities.

Gold 60-minute chart (May 22, 14:58)

The GMA Gamma Index is a set of forward-looking technical indicators for commercial products produced by Jin10 Data and its own subsidiary. During the development process, commodity and foreign exchange market order data were backtested, and combined with the volatility characteristics related to gold varieties. It is hoped that this set of indicators will help more individual traders to better judge the continuation or transformation of the long and short trend of the variety, and make take-profit or stop-loss plans.