Why has gold suddenly fallen recently?

From the perspective of the specific trend, before the opening of the U.S. market on Wednesday, gold was in a low-level shock consolidation situation. The gold price went down and gained short-term support above 1950. Until the U.S. market opened, the gold price fluctuated violently, breaking the pattern of low-level shock consolidation downwards. Suppressed by short-term bad news, combined with the news, strong economic data strengthened the Fed's expectation of raising interest rates in June, which was the culprit for gold's downward break.

Let’s see today that although gold rebounded and corrected in the short term, the short side is strong. The US economic data is optimistic, which strengthens the Fed’s interest rate hike expectations. The US dollar and US bond yields are very strong, which puts greater pressure on gold. In terms of operation, it is recommended to rebound short. The upper pressure focuses on the daily 5-day moving average of 1960 US dollars. If the price of gold rises above here, it will ease the short-term downward pressure. Dollar.

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