Overnight, spot gold fell sharply, hitting a maximum of $2,364.48 and a minimum of $2,332.09 during the day, and finally closed at $2,336.00. In the European market today, gold rose slightly and is currently hovering around $2,345.
The big market is about to break out!
Overnight, U.S. stocks were mixed, with the Dow ending its eight consecutive gains . As of the close, the Dow Jones Industrial Average fell 81.33 points, or 0.21%, to 39431.51 points; the Nasdaq rose 47.37 points, or 0.29%, to 16388.24 points; the S&P 500 Index fell 1.26 points, or 0.02%, to 5221.42 points.
Today, investors will focus on two things.
First, the US ppi data in April.
At 20:30 Beijing time, the United States will release April ppi data. Authoritative media surveys show that the monthly rate of ppi in the United States in April is expected to increase by 0.3%, and the annual rate is expected to increase by 2.2%. The survey also shows that the core PPI in the United States in April is expected to increase by 0.2% monthly, and the annual rate is expected to climb 2.4%.
This data will trigger the first major reaction in the market this week. If the market shows a counter-intuitive trend by then, then is likely to be cpi data leaking .
Next, Powell spoke.
At 22:00 Beijing time, Federal Reserve Chairman Powell gave a speech. It is expected that the content of his speech will be inseparable from inflation. Judging from the time point, Powell has already read the April inflation report . You know, Fed Chairman Powell released a dovish signal at the press conference after the May meeting, saying that the next move is unlikely to be to raise interest rates.
cme's "Fed Watch Tool" shows that interest rate futures traders betting on the Federal Reserve's first interest rate cuts in September and November are almost "evenly matched" . The "Fed Watch Tool" is enough to show that traders' expectations for interest rate cuts are basically hovering between 225 basis points and 50 basis points, rather than the 150 basis points that were widely bets at the beginning of the year.
At present, U.S. stocks are struggling to move forward under the attack of long and short. On the one hand, it is ushering in the so-called historical regular period of selling in May and then leaving. Wall Street is collectively short on small-cap stocks , believing that small-cap stocks will become the market’s dominant trend. The most dangerous stocks, corresponding to the latest mliv survey, large technology stocks will become a hedge against inflation .
talks about perfect stocks, let’s take a look at how the A-shares performed today?
Today, the A-share market fluctuated within a narrow range throughout the day, and the three major indexes all fell slightly . As of the close, the Shanghai Stock Exchange Index fell 0.07%, the Shenzhen Component Index fell 0.05%, and the ChiNext Index fell 0.26%.
Generally speaking, individual stocks rose more than they fell, and more than 3,400 stocks in the entire market rose . The turnover of Shanghai and Shenzhen stock markets today was 824.6 billion, a decrease of 85.2 billion from the previous trading day. In terms of
sectors, sectors such as civil explosives, games, complete automobiles, and household light industry were among the top gainers, while sectors such as cellular immunotherapy, coal, synthetic biology, and glyphosate were among the top losers.
Especially in the game sector, nearly 10 stocks such as Zhongke Cloud Network, Caesar Culture, Dasheng Culture, Hongbo Shares, and Tom Cat have hit their daily limit or increased by more than 10%.
Analysts pointed out that the rise of game stocks was mainly stimulated by two aspects. One was the surge in overnight in the U.S. Game Station, and the other was the overseas opportunities of the game industry. In March, the actual sales of China's independently developed games in overseas markets Revenue was US$1.427 billion, up 5.98% month-on-month and 11.34% year-on-year.
In addition, investors also need to pay attention to news about the international situation.
The EU will take action against Russia!
On May 13, local time, the European Union is preparing the 14th round of sanctions against Russia. This time it will involve Russian natural gas. It plans to ban Russian liquefied natural gas from using EU ports for transit.
This will mark the first time the EU has imposed restrictions on Russian LNG exports.
Some institutional analysts believe that once the EU implements sanctions, it will have a profound impact on Russia's LNG export model. Russia will have to overhaul its LNG export strategy, and natural gas and LNG prices may surge.
In addition to the European Union, the United States has also taken action against Russia.
On May 13, local time, the White House announced that US President Biden officially signed a bipartisan bill to ban the import of unirradiated low-enriched uranium produced in Russia. This is the main fuel used in nuclear power plants, and the import ban will begin in after 90 days.
It is worth noting that on the eve of Biden signing the bill, the United States imported a large amount of uranium from Russia. It is reported that from January to November 2023, Russia sold uranium fuel to the United States worth a total of US$1.017 billion, which is the highest value since 2010.
The market expects that the import ban or signed by Biden will further stimulate the price of related products to continue to rise .
In addition, investors also need to pay attention to the situation in the Middle East. According to a CNN report on May 13, local time, two senior U.S. government officials told the media that according to the Biden administration’s assessment, Israel has assembled enough troops near the southern city of Rafah in the Gaza Strip to A full-scale attack on Rafa will be available in the next few days.
Gold Investment Network: Analysis of Gold Trends on May 14th
Gold traders have clearly been keen to seize any downward trend in the market this year. Given the strong growth trajectory of precious metals, it's understandable why they're taking this approach. The current weakness in the market may provide traders with another opportunity to buy on the dip.
Image source: Jintou.com
From a technical point of view, spot gold once touched the 50-period exponential moving average (EMA). After the start of today's trading, gold prices began to rebound, thus strengthening expectations that gold prices will resume a major bullish trend. The stochastic indicator is currently clearly sending a positive signal, and we are waiting for this factor to push gold prices to hit the first bullish target of $2,400.00, with a higher target looking at the recent historical high of $2,431.44.
analysts predict that today’s gold price will trade between the support level of $2,325.00 and the resistance level of $2,365.00. The expected trend for gold prices today is bullish.
