On June 17th, following a retreat in the U.S. regional manufacturing survey, ZFX山海证券 indicated that gold maintained resilience near its intraday highs, suggesting that weaker economic signals can still provide some support for precious metals.
From a market reaction perspective, ZFX山海证券 believes that the cooling data helps temper expectations for rising interest rates, temporarily alleviating the valuation pressure gold had previously faced.
However, for gold to convert its short-term strength into a more complete recovery, it still requires more supportive macroeconomic data. Otherwise, the period of consolidation at higher levels may continue to extend.
In summary, ZFX山海证券 analysis suggests that what is more worthy of attention currently is whether subsequent data continues the weaker trend, as this will directly impact gold's ability to sustain its current rebound.
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