Gold trading strategy on December 10: After the CPI is released, choose an opportunity to enter the market

Spot gold rose slightly on Friday (December 10), and fluctuations are limited before the CPI is released. Investors are advised to wait until the data is released before operating.


Daily level: The price of gold has not fluctuated much this week. Investors enter the market cautiously before the announcement of the November CPI and the Federal Reserve resolution.

It is expected that the fluctuation during the day will not be large, and we mainly look forward to the market at night. According to the situation in October, if the inflation is higher than the expected 6.8%, the supporting effect on the gold price should be stronger, and the gold price may rise sharply. If the inflation is 6.8% or below 6.8%, the gold price may rise and fall and fall into shock. .

Operationally, it is recommended to wait until the data is released before entering the market. Prior to this, the main thing is to wait and see. If it is higher than 6.8%, it will go long on dips. If it is less than 6.8%, it will consider continuing to wait and see.

The above resistance focuses on yesterday's high of 1787.60, and further attention to the psychological barrier of 1800 and the high of 1808.72 on November 30.

Below support is concerned about the low of 1770.00 on November 30, and then the low of 1761.97 on December 2 and the low of 1750.26 on October 11.

(Spot gold daily chart)

Resistance levels: 1787.60; 1800.00; 1808.72
Support levels: 1770.00; 1761.97; 1750.26

Short-term operation advice: wait and see and wait for the data to come out

GMT+8 14:07, spot gold was quoted at $1,775.51 per ounce.