Analysis of the latest trend of gold market on February 14

Analysis of the latest trend of gold market on February 14

Analysis of news
Price trend: In the early European session, the price of gold was $2,936/ounce, close to the historical high of $2,942.68, and is expected to rise for the seventh consecutive week.

Reasons for the rise: Increased risk aversion demand and increased gold holdings by global central banks are the main driving factors.

Market dynamics: US President Trump's tariff plan has exacerbated global trade concerns. US inflation data shows that core PCE may decline, the US dollar index has plummeted, and US bond yields have also fallen sharply. These factors have jointly pushed up gold prices.

Focus on the market: The market is concerned about the US retail sales monthly rate, import price index monthly rate, industrial output monthly rate, commercial inventory monthly rate and other data in January.

These data are expected to be good for gold prices.

Market focus
Trump policy: The market is concerned about Trump's policy trends, especially the impact on global trade.

Federal Reserve monetary policy: A low interest rate environment is usually good for gold. The market expects that if the PCE data is lower than expected, the Federal Reserve may maintain a dovish stance.

Inflation data: The increase in the US PPI in January was higher than expected, but the core PCE data was relatively mild.
The market is closely watching the PCE data released on February 28.

Gold technical analysis
Daily level analysis: The gold market fluctuated greatly this week, but it still maintained a strong trend overall.

Support and resistance:

Support: $2920 and $2908 are key support levels.

Resistance: The previous high of $2942-2943 is the primary resistance level, and it may look to $2957 after breaking through.

Operational suggestions: It is recommended to mainly go long on pullbacks and short on rebounds. Pay attention to the resistance of 2950-2955 on the upper side in the short term, and pay attention to the support of 2925-2920 on the lower side in the short term.

Summary:
The gold market is currently supported by multiple factors, including trade policy uncertainty, inflation concerns, central bank holdings, and expectations of a Fed rate cut. In the short term, the market is still volatile, but if Trump's policies increase economic uncertainty, gold may accelerate its rise and challenge the key psychological level of $3,000 per ounce.
Technically, gold still maintains a relatively strong trend overall, and it is recommended to focus on long positions on pullbacks.