Data released on Wednesday (May 15) showed that the U.S. core CPI monthly rate cooled for the first time in six months, indicating that price pressures are gradually weakening and supporting the Federal Reserve's intention to maintain higher interest rates for a longer period of time. After the data was released, spot gold surged by about $17 in the short term, hitting a maximum of 2378.37 before falling back. The U.S. dollar index fell about 40 points in the short term, hitting a low of 104.4046, and then recovered some of the losses.
Gold fluctuated and rose today. The price fell back to support the rise near the 5-day moving average of 2354 in early trading. The trend was in line with bullish expectations in early trading. The data in the evening were bullish, and the market surged in the short term and broke through the 2378 line. At the top, pay attention to the pressure on the upper rail. The upper rail is currently moving up to around 2385. If you are bullish, do not chase the rise. Pay attention to the pressure pullback opportunities near the upper rail.