May 15thCrashbandicoot4ps3COMEX gold closed at 2393Crashbandicoot4ps3.80 US dollars per ounce, an increase of 0.Crashbandicoot4ps3.08%; domestic SHFE gold night trading closed at 564.84 yuan / g, an increase of 1.19%.
On Wednesday, US multi-caliber CPI data showed that the unseasonally adjusted core CPI annual rate and the unseasonally adjusted CPI annual rate in April both exceeded expectations and fell in line with market expectations, recording 3.6 per cent and 3.4 per cent respectively. In April, the core CPI monthly rate and CPI monthly rate also exceeded expectations, with a downward range of 0.1%, and both recorded 0.3%. Among them, the monthly rate of CPI fell for the first time in seven months and is now at its lowest level since December 2023. After the landing of the CPI data, US multi-term Treasury yields fell sharply, COMEX gold jumped 20 points in a minute, traders increased their bets on the Fed rate cut, and the market expects the Fed to cut interest rates faster in 2024.
In addition, economic data show weakness again. Us retail sales fell at a faster-than-expected monthly rate of 0 per cent in April, well below the previous value of 0.70 per cent. The New York Fed manufacturing index also fell sharply in May, recording-15.6, lower than expected (- 10) and previous values (- 14.3). The US economy is weakening or adding new evidence.
Taken together, CPI data are weaker than expected, superimposed economic data are weak again, expectations of interest rate cuts are rising, market sentiment is improving, gold prices may fluctuate in the short term, and pay attention to the evolution of the geo-situation in the Middle East.
Data sourceCrashbandicoot4ps3Wind, Jinshi data, Everbright Futures Research Institute
Written by Shi Shiming
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