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Analysis of today's market
Abstract：On Thursday, as investors digested U.S. economic data, gold prices ended a streak of consecutive gains, plunging by more than 1%. The consumer report was more moderate than expected, but higher prices
On Thursday, as investors digested U.S. economic data, gold prices ended a streak of consecutive gains, plunging by more than 1%. The consumer report was more moderate than expected, but higher prices on the producer side prevented traders from pushing up gold prices. Gold was traded at $2,684.
The Producer Price Index surpassed forecasts, hinting that the inflation process might stagnate. Meanwhile, the U.S. Bureau of Labor Statistics revealed that the labor market was cooling as the number of Americans applying for unemployment benefits was higher than anticipated.
Gold opened at around 2680 and rose to around 2682 at the highest and around 2678 at the lowest before press time.Pay attention to the resistance of 2710-2720-2730 If it fails to break through, it will test 2670-2660-2650
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