To The Moon

Hello everyone！Today I want to share some macro analysis with you!

1.

$XAU/USD(XAUUSD.FOREX)$ $Gold - main 2406(GCmain)$ Gold rose 1% intraday to stand at $2,400 an ounce again, a new high since 19 April. Spot silver jumped 3.3 per cent during the day, hitting as high as $30.55 an ounce, the highest since 2013. Silver has risen 28 per cent this year, outpacing gold, and has been one of the best-performing major commodities this year.

The Consumer Price Index (CPI), which measures the cost of goods and services in the U.S. economy, rose 3.4% year-on-year in April, data released by the U.S. Department of Labour showed on Wednesday.

The so-called core CPI, which excludes volatile food and energy items, climbed 3.6 per cent year-on-year, the lowest increase since April 2021. Both year-on-year figures were in line with the expectations of economists polled by the media. Technical action, tweeted earlier Gold has broken through the H4 dark cloud overhead resistance and a new bull market is coming.2500 USD/oz will be coming!

2.

Next week's strategy: the price of gold continued its upward trend on Friday (17 May) and on a decisive break above $2,400 per ounce, with spot gold up 1% to $2,418.88 per ounce as of writing . The large amount of mixed data released in the US on Thursday, with Fed officials reiterating that inflation is still not falling fast enough to consider a rate cut, led to a slide in the US dollar and US Treasuries, which had an overall neutralising effect on gold prices.

Gold prices are on track for a second consecutive week of gains after hitting a one-month high on Thursday, with gold prices up 1 per cent so far this week.

Demand from China, which has fuelled the rise in gold prices in recent months, is becoming increasingly important as the market waits to see if high gold prices will prompt some central banks to slow down their purchases and as money continues to flow out of physically-backed gold-listed exchange traded funds.

Next Wednesday will see the release of U.S. home sales data for April, as well as the minutes of the FOMC's April/May monetary policy meeting.

Next Thursday, the market will receive the S&P Manufacturing and Services Purchasing Managers' Index (PMI) preview data, weekly initial jobless claims, and April new home sales data.

Next Friday will see the release of the durable goods report for April. $Cboe Volatility Index(VIX)$

3.

Technical: gold after a small retracement correction, the morning began to stabilise the bottom, in 2380 above the beginning of the short power, as of the United States, once again pierced in the vicinity of 2410 after arriving at 2418 a line to stop, short-term gold will also continue to Refresh the highs in the near future, intends to approach the highs of the previous period, but overall, the current trend is still biased in favour of the bulls strong, the gold daily, April 12, hit a record high of 2431 after falling back, and finally in 2277 a line of support began to strengthen, this Friday finally succeeded in not standing on the 2400 mark and broke through the 2417 on April 19, and this Friday, the final successful not stand on the 2400 level.　

April 12 in the record high of 2431 fell back, and eventually in 2277 a line of support began to strengthen, this Friday finally succeeded in not stand on the 2400 mark, and broke through the high point of 2417 dollars on April 19, the next resistance is the historical high point of 2431 dollars, at present, should be no pressure, H4 trend, gold in the line of support in the 2277 line on the opening of the Shock upward trend, each time in the strong pull up after the correction will be pulled back and then rushed high again, the end of the plate on Friday rushed to 2422 near the current Bollinger band opening upward running, gold prices running in the upper rail near the KDJ gold fork after the side of the upward dispersion running, MACD gold fork after the upward dispersion running, the red column of energy volume, the overall trend is still strong. 　　

Comprehensive point of view: gold in April 12 hit a new record high after a sustained decline in the final adjustment in the vicinity of 2277 support after the opening of the shock rising trend, Friday has stood on the 2400 mark and broke through the high point of April 19, 2417 U.S. dollars, it is expected to continue to move up to challenge the new historical highs again, so next Monday's operation to buy mainly above the short-term focus on the 2430-2435 a line of resistance, below the short-term trend is still strong.

2435 resistance, the lower short-term focus on 2400-2395 support.

Follow me to learn more about analysis!!

https://x.com/TradersXauusd