Last week, the price of gold finally closed down, falling for three consecutive weeks. The gold market fell back below $1,290 per ounce on Monday (April 15).
The spot gold price in the day refreshed the new low since April 5 to $1,285.76 per ounce.
The market risk aversion has declined, making gold affected.
CMC MarketsAnalystMargaret Yang said that the macroeconomic data has improved, investors have chosen to take profits, so the price of gold is lower.
Asian stock markets were higher on Monday, and concerns about trade dispute risks have declined.
Technical analyst Wang Tao pointed out that the next gold price may test the April 4 low of 1280.99 US dollars / ounce level.
Last weekUS economic dataThe performance is good, making gold under pressure.
Olf senior market analyst Alfonso Esparza said that the Fed turned in the first quarter, but as the economic data performed well, its interest rate cuts may become lower.
"If US retail sales perform better than expected, then the market expects the Fed to raise interest rates again at the end of this year."
The US March retail sales data, which will be released on Thursday night, is the focus of the market this week.
On the other hand, according to the latest CFTC data, as of the week of April 9th, hedgingfundThe net gold holdings of the holdings increased by 10,000 lots, making the total number of net long positions rise to 105,364 hands.
(Article source: Gold headline)