Economic Indicators

14：00 German Import Price Index (MoM) (May)‧Fcst+0.2%‧Prev+0.7%
14：00 German Import Price Index (YoY) (May)‧Fcst-0.3%‧Prev-1.7%
14：00 German Retail Sales (MoM) (May)‧Fcst+0.0%‧Prev-1.2%
14：00 German Retail Sales (YoY) (May)‧Prev-0.6%
14：00 UK Current Account (Q1)‧Prev-21.2B
15：55 German Unemployment Change (Jun)‧Fcst15K‧Prev25K
15：55 German Unemployment n.s.a. (Jun)‧Prev2.723M
15：55 German Unemployment Rate (Jun)‧Fcst5.9%‧Prev5.9%
15：55 German Unemployment (Jun)‧Prev2.762M
20：30 US Personal Income (MoM) (May)    ‧Fcst+0.4%‧Prev+0.3%
20：30 US Real Personal Consumption (MoM) (May)‧Prev-0.1%
20：30 US Core PCE Price Index (MoM) (May)‧Fcst+0.1%‧Prev+0.2%
20：30 US Core PCE Price Index (YoY) (May)‧Fcst+2.6%‧Prev+2.8%
20：30 US PCE price index (MoM) (May)‧Fcst+0.0%‧Prev+0.3%
20：30 US PCE Price index (YoY) (May)‧Fcst+2.6%‧Prev+2.7%
20：30 Canada GDP (MoM) (Apr)‧Fcst+0.3%‧Prev+0.0%
21：45 US Chicago PMI (Jun)‧Fcst40.0‧Prev35.4
22：00 US Michigan Consumer Sentiment (Jun)‧Fcst65.8‧Prev65.6
22：00 US Michigan Current Conditions (Jun)‧Prev62.5
22：00 US Michigan Consumer Expectations (Jun)‧Prev67.6
22：00 US Michigan 1-Year Inflation Expectations (Jun)‧Prev3.3%
22：00 US Michigan 5-Year Inflation Expectations (Jun)‧Prev3.1%

XAU London Gold - Boosted by a weaker US dollar, gold prices regained the 2,300 mark

London gold rose more than 1% on Thursday from a more than two-week low hit in the previous session as the dollar weakened and market focus turned to key U.S. inflation data for clues on the policy path of the U.S. Federal Reserve (FED). Gold prices fell to their lowest since June 10 at $2,293.50 on Wednesday. Data released on Thursday highlighted the weakening momentum in the U.S. economy, with business spending on equipment falling in May and falling exports leading to a widening of the goods trade deficit. The Bureau of Economic Analysis of the U.S. Department of Commerce released its third estimate of first-quarter GDP, confirming that economic growth slowed significantly in the first quarter. While the Fed is expected to cut interest rates only once this year, investors have largely stuck to their view that there will be about two more cuts, according to LSEG FedWatch data. Data on the personal consumption expenditures (PCE) price index, a key inflation report and the Fed's favored inflation gauge, will be released on Friday.

In terms of technical trends, the overall gold price can also maintain a bottom near the $2280 level in early May, while the RSI and stochastic index are in the oversold zone, which may be expected to alleviate short-term gold price selling pressure. The current resistance is at $2325 and $2350, and the next level of resistance is at $2370 and the June 7 high of $2387.60. The support level will refer to the bottom of gold price correction at $2277 in early May. If this area is not stable, gold prices are expected to fall into weakness again. At the next level, pay attention to $2250 and $2228.

London Gold June 28
Forecast early volatility: 2320 – 2332
Resistance 2344 – 2355 – 2372
Supports 2310 – 2298 – 2286

SPDR Gold Trust gold holdings:
June 17 – 825.31 tons
June 18 – 825.31 tons
June 19 – 825.31 tons
June 20 – 823.65 tons
June 21 – 831.93 tons
June 24 – 829.05 tons
June 25 – 829.05 tons
June 26 – 829.05 tons
June 27 – 829.05 tons

27/6 AM London Gold Fix: $2310.55
27/6 PM London Gold Fix: $2323.6

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