9.10 Jin Ke Midnight Gold Review: PPI Blast! Gold Plunges $40 at Midnight
During the day, gold prices surged to the 4434 area and then weakened with ongoing consolidation. In the evening, the U.S. PPI data was released, coming in far above market expectations, which immediately extinguished hopes for rate cuts. Gold then fell sharply, with the intraday low smashing down to around 4324, and the day saw highly volatile price swings.
The key driver behind this drop is inflation data coming in stronger than expected. Market expectations for Fed rate cuts this year quickly cooled, and pricing even began to incorporate further rate hikes. The U.S. dollar index and Treasury yields rose in tandem, directly increasing the cost of holding gold. Heavy, concentrated selling pressure then triggered the sharp plunge in gold prices.
On the hourly chart, a consecutive red-candle decline pattern has formed. Although there is currently a slight oversold rebound, the rebound momentum is clearly weak, and the short side firmly controls the market in the short term.
Place sell orders on the 4370–4390 range for targets at 4340 and 4320.
$XAU $LAB #黄金
During the day, gold prices surged to the 4434 area and then weakened with ongoing consolidation. In the evening, the U.S. PPI data was released, coming in far above market expectations, which immediately extinguished hopes for rate cuts. Gold then fell sharply, with the intraday low smashing down to around 4324, and the day saw highly volatile price swings.
The key driver behind this drop is inflation data coming in stronger than expected. Market expectations for Fed rate cuts this year quickly cooled, and pricing even began to incorporate further rate hikes. The U.S. dollar index and Treasury yields rose in tandem, directly increasing the cost of holding gold. Heavy, concentrated selling pressure then triggered the sharp plunge in gold prices.
On the hourly chart, a consecutive red-candle decline pattern has formed. Although there is currently a slight oversold rebound, the rebound momentum is clearly weak, and the short side firmly controls the market in the short term.
Place sell orders on the 4370–4390 range for targets at 4340 and 4320.
$XAU $LAB #黄金
