Gold bull trend is obvious
International gold prices rose to a five-year high on Friday, reaching a peak of $1410 per ounce, with a weekly rise of more than 4%, the biggest one-week increase since April 2016, and a five-week sunset.
Domestic gold exceeded 310 yuan per gram, rising for seven consecutive weeks.
Looking ahead, first of all, the Fed is expected to continue releasing the "pigeon" message at a time of slowing economic growth in the United States, so that the U.S. dollar index can break out of its position, while limiting the room for the U.S. dollar to rebound and giving strong support to gold prices. Second, tensions between the United States and Iraq may lead to hedge funds pushing up gold prices again. Finally, technically, the international gold price has risen for five consecutive weeks, breaking through the pressure of large-scale oscillation in the past three years, and at the same time, all the average lines from the daily level to the annual level will be resynchronized to form a multi-headed arrangement. This synchronization is rare in history and indicates the arrival of the international gold price multi-headed trend.