GOLD: Wait for the US CPI Data
Hello everyone! Today i want to share some macro analysis with you!
1.
$Gold - main 2604(GCmain)$ Technical Analysis: The $5000 level has become the first resistance zone for a short-term rebound. If the rebound is limited and fails to hold, the downtrend will be difficult to reverse. Further key resistance lies around $5020; only a recapture of this level can allow the market to resume its upward trend.
Momentum indicators show the daily RSI has rapidly fallen below 50, indicating a significant weakening of bullish momentum. The MACD histogram is also contracting and showing signs of a death cross, reinforcing the short-term pullback signal. Increased trading volume suggests that this decline has a certain degree of emotional release rather than a gentle correction.
Overall, the technical picture has shifted from a strong uptrend to a high-level consolidation or even a short-term correction phase. If there is a lack of positive fundamental support, gold prices may maintain a wide range of fluctuations. In terms of trading, a sell-oriented approach is recommended in the short term, while a buy-oriented approach remains appropriate in the medium to long term.
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Gold rebounded strongly in Asian trading on Friday (February 13) after a dramatic plunge the previous day. The price is currently around $4987 per ounce, up $65 on the day. Buying on dips drove the rebound.
Gold has stabilized after a sharp drop. Previously, a broader sell-off in financial markets triggered the decline, and algorithmic trading may have amplified this volatility.
Gold closed down $162.57, or 3.2%, at $4921.77 per ounce on Thursday, its biggest one-day drop in a week. This sudden decline was accompanied by tensions on Wall Street: investor concerns about the impact of artificial intelligence on corporate profits put downward pressure on prices across various assets.
Thursday's sharp pullback in gold prices—though without a clear catalyst—may have been exacerbated by selling pressure fueled by commodity trading advisors using computer models to bet on price movements.
The sell-off in gold and silver—the latter falling nearly 11% on Thursday—may also have stemmed from profit-taking. Both metals have recovered some ground after experiencing a historic plunge at the beginning of the month, but trading has remained volatile since then.
The US CPI data will be closely watched today.
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