Silver T D rose on the night of May 10 (May 10), reported 3,528 yuan, opened at 3520 yuan, up 8 yuan. Silver T D fell 6 yuan on Friday, a decrease of 0.17%, reported 3,521 yuan / gram, the highest price of 3533 yuan / gram, the lowest price of 3517 yuan / gram. International spot silver Friday (May 10) Asian market opened at 14.76 US dollars / ounce in early trading, the lowest test to 14.71 US dollars / ounce, the highest rose to 14.84 US dollars / ounce, and finally closed at 14.78 US dollars / ounce, up 0.02 US dollars, the increase 0.14%.
The US consumer price index (CPI) rose by 0.3% in April, and the previous value rose by 0.4%. In the 12 months to April, the consumer price index (CPI) rose by 2.0%, and in March it rose by 1.9. %. Economists had predicted that CPI will increase by 0.4% in April and 2.1% year-on-year. The core CPI, which deducted the fluctuating food and energy, rose slightly by 0.1%, and clothing prices fell for the second consecutive month. Bloomberg commented that due to the decline in the cost of used cars and clothing, a key measure of the US consumer price index was lower than expected in April, putting the Fed’s information that the inflation downturn is temporary.
Afshin Nabavi, senior vice president of MKS SA, said, “The tension in the Middle East is currently supporting gold, but the market continues to move down to around $1,275, going up to around $1,292 and encountering considerable resistance around $1,290.”
From a technical point of view, the current gold bears have the overall near-term technical advantage. A two-and-a-half-month downtrend has been formed on the daily chart. The bulls’ next target is to attack the solid resistance at $1300.00 per ounce. The next near-term technical breakthrough for the bears is to push prices below the solid technical support at $1250.00 per ounce. First resistance is at $1290.00, followed by 1300. First support is seen at $1280.00 and then at last week’s low of $1,265.85 per ounce.
Fundamental positive factors:
1. On Friday (May 10), the US consumer price index (CPI) rose by 0.3% in April, and the previous value rose by 0.4%. In the 12 months to April, the consumer price index (CPI) It rose by 2.0% and rose by 1.9% in March.
2. On Thursday (May 9), the number of people filing for unemployment benefits from the United States to the beginning of May 4 was 228,000, lower than the previous value of 230,000 but higher than the expected 220,000, but still stable. .
3. The US PPI monthly rate announced on Thursday (May 9) was 0.2%, lower than the previous value of 0.6%. Expected that the US producer price index rose moderately in April, but the potential inflation pressure seems to be improving. . The PPI index excluding food, energy and trade services increased by 0.4% from the previous month, the largest increase since January 2018.
4. The US April ISM non-manufacturing PMI released on Friday (May 3) was 55.5, lower than the previous value of 56.1 and expected 57; the lowest since April 2017.
Fundamental negative factors:
1. The US March trade balance announced on Thursday (May 9) was -50 billion US dollars, higher than the previous value of -49.4 billion US dollars but lower than expected – 50.2 billion US dollars. The US trade deficit with China narrowed to 283. One hundred million dollars, the lowest in five years. The commentary said that due to the increase in imports of industrial products from Germany and Japan, the US import scale has increased, resulting in a slight expansion of the US trade deficit in March, but still lower than the same period last year, indicating that the trade account may not have a major impact on the economy as it did last year. .
2. The US non-farm payrolls data for April released on Friday (May 3) was up 263,000, much higher than the previous value of 196,000, or the expected 185,000. The US unemployment rate in April was 3.6%, lower than the previous value and expected 3.8%; a record low in 49 years.
3. Friday (May 3) announced the US April Markit service industry PMI final value of 53, higher than the previous value and expected 52.9; MARKIT chief economist Chris Williamson said that the US April service PMI final value display The US economy saw a significant slowdown in the second quarter.
4. The monthly rate of US factory orders announced on Thursday (May 2) was 1.9%, higher than the previous value of -0.5% and expected 1.5%, due to a 7% increase in transportation equipment orders, especially civil aircraft surged 31 %, led the US factory orders in March to record better than expected, and the largest increase since August 2018.
Focus on next Monday
21:05 Boston’s 2019 FOMC voting committee and Boston Fed President Eric Rosengren gave a welcome speech at the “Fed Listens” conference.
21:10 Richard Clarida, vice chairman of the US Federal Reserve Bank of the United States, delivered an opening speech at the “Fed Listens” conference.
The Hong Kong Stock Exchange is closed for the first day of the Buddha’s Birthday.
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