To The Moon

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

1.

$XAU/USD(XAUUSD.FOREX)$ $Gold - main 2406(GCmain)$ Gold rallied higher during the day into late trading on Tuesday (21 May) and is currently rallying around the 2423 level, down 0.11% on the day. Gold prices retreated from the record highs touched in the previous session, after hitting a record high of $2,449.89 on Monday, helped by bullish factors such as warming U.S. interest rate cut bets and geopolitical risks driving safe-haven demand.

Fed's cautious attitude Fed officials' recent speeches revealed a cautious attitude towards the current economic situation. Although the consumer price index (CPI) in April showed that inflationary pressures have eased, but officials did not relax their vigilance.

The following is the attitude of Federal Reserve officials: the market's expectations for rate cuts Although the market has digested the Fed's expected rate cuts of about 41 basis points this year, but with the gradual shift in the officials' remarks, this expectation may be adjusted.

Analysts at leading institutions noted that market expectations for the Fed's overall easing by the end of the year have fallen back slightly to 42 basis points.

This suggests that although market expectations for rate cuts remain, investors have become more cautious compared to previous optimism.

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2.

Fluctuations in the price of gold are closely linked to the movement of the United States dollar. As the United States dollar strengthens, gold becomes relatively less attractive as a dollar-denominated asset. However, geopolitical uncertainty and a lower interest rate environment provided support for gold. In particular, China's gold purchases surged in the first quarter, the best first quarter performance since 2013, which undoubtedly injected new vigour into the gold market.

From a technical analysis point of view, gold prices are currently in a high oscillator phase after an earlier rise. The bulls are trying to hold the key support level of $2400. Although the price of gold may be affected by the strengthening of the US dollar in the short term, in the long term, gold still has investment value due to the uncertainty of the global economy and inflationary expectations.

If it holds on to the 2400 mark, gold prices are expected to rise towards 2500 in the future! Initial intraday point reference: 　XAUUSD: pay attention to the resistance near 2433-2435; below pay attention to the support near $2412, as well as the support near $2406, trading buy orders!

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3.

EST: 2 p.m. today! The Federal Reserve released the minutes of the monetary policy meeting.XAUUSD in the absence of any important data released, there was a sharp decline, touching a low near 2382, many investors were not expected.

FED meeting is expected to be difficult to produce large fluctuations in gold, this wave of the market has been finished in advance!

Currently in the oscillatory consolidation stage, if XAUUSD can successfully stand firm 2390, will continue to break out 2400, keep rising, if fell below this position, tomorrow's trading will continue to fall to 2370 near!

The next need to focus on: the Federal Reserve announced the minutes of the monetary policy meeting!

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