黄金今日行情走势要点分析（2025.5.14）

Core Viewpoint - The recent U.S. inflation data has altered market expectations regarding the Federal Reserve's monetary policy, reducing concerns about interest rate hikes and enhancing the appeal of gold as a safe-haven asset [3]. Fundamental Analysis - U.S. inflation data: The Consumer Price Index (CPI) for April rose by 0.2% month-on-month, lower than the expected 0.3%, with a year-on-year increase of 2.3%, marking the lowest level since February 2021. This has led to a shift in market expectations regarding the Federal Reserve's monetary policy, supporting gold prices [3]. - Trump's statements add market uncertainty: Following the CPI report, Trump pressured Powell to lower interest rates and claimed that Saudi Arabia would invest $1 trillion in the U.S. His calls for rate cuts align with market expectations, further enhancing the attractiveness of gold amid geopolitical uncertainties [3]. - Monetary policy expectations: Weaker inflation data has strengthened market belief in the Federal Reserve's capacity for monetary policy adjustments, increasing expectations for rate cuts. This is likely to lower the opportunity cost of holding gold, attracting more funds into the gold market and supporting price increases [3]. Technical Analysis - Gold prices exhibited significant volatility, ultimately closing higher after experiencing two dips followed by recoveries. The 5-day and 10-day moving averages have formed a death cross and are trending downward, creating resistance levels at approximately 3275 and 3300, which may limit upward movement [5]. - Key support levels are identified at 3208/3207, which is crucial as it aligns with the previous low and an important support line. If this support is breached, the market outlook may shift to a bearish perspective, with 3150 as the next critical support level [7]. - Resistance levels to monitor include 3265, 3275, and 3290/3293, with further attention on 3323 and 3350 if a strong upward trend occurs [7].