On Tuesday, data showed that the U.S. PPI growth rate in April was 0.5%, much higher than the expected 0.3%. After hearing the news, traders reduced their bets that the Federal Reserve will cut interest rates for the first time in September. The possibility of an interest rate cut in September is estimated to be 60%. , while the probability before the report was released was 64%. After disappointing first-quarter inflation data, the latest PPI data did little to ease concerns about stubborn inflation, which could lead to continued high U.S. Treasury yields, which would be detrimental to stocks and gold. All the various inflation measures point to price pressures well above the Fed's goals. Additionally, various consumer surveys show that consumer expectations are high. The New York Fed's monthly survey released on Monday showed the one-year inflation outlook at 3.3%, the highest level since November, driven in large part by expectations that housing-related costs will continue to increase. Recent data points related to inflation are not encouraging.
The trend of gold is stronger during the day, and the U.S. market may be tested upward in the evening. At the top, focus on the key watershed of 2356, and on the bottom, focus on the breakdown of the 2340 mark and the support in the area near 2332. It is expected that the probability of falling back after rising tonight is relatively high. The support below is still at the 2330-32 line, which is currently an important support below. Short-term short positions will continue if it falls below this position, otherwise it will maintain a volatile trend. In late trading operations, the rebound will still be mainly short selling, and the short selling position will be moved up to around 2356-2358 before participating.