Economic Indicators

14：00 German Industrial Production (MoM) (Apr)‧Fcst+0.3%‧Prev-0.4%
14：00 German Industrial Production (YoY) (Apr)‧Prev-3.35%
14：00 German Exports (MoM) (Apr)    ‧Fcst+1.1%‧Prev+0.9%
14：00 German Imports (MoM) (Apr)‧Fcst+0.6%‧Prev+0.3%
14：00 German Trade Balance (Apr)‧Fcst22.6B‧Prev22.3B
14：00 UK Halifax House Price Index (MoM) (May)‧Fcst+0.2%‧Prev+0.1%
14：00 UK Halifax House Price Index (YoY) (May)‧Fcst+1.20%‧Prev+1.09%
14：45 French Trade Balance (Apr)‧Prev-5.473B
14：45 French Imports (Apr)‧Prev57.698B
14：45 French Exports (Apr)‧Prev52.224B
17：00 EZ GDP (QoQ) (Q1)‧Fcst+0.3%‧Prev+0.3%
17：00 EZ GDP (YoY)‧Fcst+0.4%‧Prev+0.4%
20：30 US Nonfarm Payrolls (May)‧Fcst185K‧Prev175K
20：30 US Private Nonfarm Payrolls (May)‧Fcst170K‧Prev167K
20：30 US Manufacturing Payrolls (May)‧Fcst5000‧Prev8000
20：30 US Government Payrolls (May)‧Prev8000
20：30 US Unemployment Rate (May)‧Fcst3.9%‧Prev3.9%
20：30 US Average Hourly Earnings (MoM) (May)‧Fcst+0.3%‧Prev+0.2%
20：30 US Average Hourly Earnings (YoY) (YoY) (May)‧Fcst+3.9%‧Prev+3.9%
20：30 US Average Weekly Hours (May)‧Fcst34.3‧Prev34.3
20：30 Canada Employment Change (May)‧Fcst22.5k‧Prev90.4k
20：30 Canada    Unemployment Rate (May)‧Fcst6.2%‧Prev6.1%
22：00 US Wholesale Inventories (MoM) (Apr)‧Fcst+0.2%‧Prev+0.2%
22：00 US Wholesale Trade Sales (MoM) (Apr)‧Prev-1.3%

XAU London Gold - Gold hits two-week high as market focuses on U.S. non-farm payrolls report

Investors are waiting to see whether Friday's May jobs report will show a cooling of the labor market, after April's report showed job growth slowed more than expected, with 175,000 jobs added, the fewest in six months. The ADP employment report released on Wednesday showed that private employment increased by 152,000 jobs last month, which was lower than economists' forecast of 175,000 jobs. Wage data in Friday's jobs report will be closely watched, with inflation remaining a focus of Fed policy. Next week's May consumer price index (CPI) report will be key to guiding the Fed's near-term expectations. Fed officials have emphasized that they want to see several months of improving inflation before easing policy. A report on consumer price inflation will be released on Wednesday, before the Federal Reserve wraps up its two-day policy meeting.

London gold climbed to a two-week high on Thursday as market focus turned to Friday's non-farm payrolls data. Data on Wednesday showed that U.S. private employment growth in May was lower than expected, while last month's data was revised downwards, leading to speculation that the non-farm payrolls report may not be stronger than expected, which will be beneficial to the gold and silver markets.

As can be seen from the technical chart, the RSI and stochastic index are rising, and the gold price has temporarily held the $2300 mark and even just missed $2315. The gold price correction bottom in early May was above $2277, so the gold price is expected to stabilize in the short term. sign. The current resistance will be at $2,380, and the larger resistance is expected to be $2,400 and $2,430. As for support, we will first look back at the 25-day moving average of $2355 and $2325. The next level will be $2300. The key support will refer to the May 3 low of $2277.

London Gold June 7
Forecast early range: 2371 – 2379
Resistance 2388 – 2395 – 2408/2420
Support 2363 – 2354 – 2345/2333

SPDR Gold Trust gold holdings:
May 27 – 832.21 tons
May 28 – 832.21 tons
May 29 – 832.21 tons
May 30 – 832.21 tons
May 31 – 832.21 tons
June 3 – 832.21 tons
June 4 – 832.21 tons
June 5 – 833.65 tons
June 6 – 837.11 tons

6/6 AM London Gold Fix: $2360.85
6/6 PM London Gold Fix: $2360.6

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