On May 23, COMEX gold prices fell 2.5 percentplayhotrollvideopokerforfree.60% to US$2,353.00/ounce, and Shanghai gold masters fell 2.05% to 552.66 yuan/gram overnight.
In the overnight market, multi-caliber PMI data from the United States was released, and PMI data in all dimensions showed different magnitudesplayhotrollvideopokerforfreego higher. Specifically, the initial value of the S & P global manufacturing PMI of the United States exceeded expectations in May, recording a new high of 50.9, a two-month high; the initial value of the S & P global services PMI of the United States in May also exceeded expectations and the previous value rose, recording a record high of 54.8, a new high in 12 months; the initial value of the S & P global comprehensive PMI of the United States in May recorded a new high of 54.4, a new high in 25 months.
In addition, the job market has changed from its month-to-date weakness. The number of initial jobless claims has fallen back after rising beyond expectations for two consecutive weeks, showing a positive trend. Data showed that the number of initial jobless claims in the United States for the week ending May 18 fell lower than the expected value (220,000) and the previous value (revised to 223,000), recording 215,000.
Whether it is the strong PMI data of various caliber or the recovering job market data, it all reveals that the U.S. economy may still be full of resilience. Recently, the Federal Reserve has been hawking one after another. While inflation is blocked, interest rates may be cut again. Market sentiment will be damaged. Gold prices may be weak in the short term, waiting for more inflation data guidance.
Source: Wind, Jinshi Data, Everbright Futures Research Institute
Written by: Wu Aihua
Qualification: F3074355
Investment consulting qualification: Z0017696
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