Juno markets 外匯：纸黄金价格波动，未来走向何方？

Group 1: Market Dynamics - The paper gold market showed subtle price dynamics on June 10, with an opening price of 768.23 CNY per gram, reaching a high of 770.34 CNY and a low of 762.52 CNY, closing at 766.57 CNY, reflecting a 0.22% decline from the opening [1] - Economic and political factors are interwoven, influencing market supply and demand as well as investor sentiment [1] Group 2: Trade Relations - Senior officials from the US and China are holding crucial meetings in London regarding tariffs and trade restrictions, with a previous agreement to suspend some tariffs easing market tensions [3] - Positive outcomes from the trade negotiations could increase market risk appetite, leading to a potential outflow of funds from safe-haven assets, which may exert downward pressure on gold prices, although the impact is expected to be limited [3] Group 3: Geopolitical Factors - The geopolitical situation, particularly Russia's control over more territory in Ukraine, has heightened market uncertainty, increasing the appeal of gold as a safe-haven asset [4] - In a low-interest-rate environment, gold's lack of yield becomes less of a disadvantage, enhancing its attractiveness for asset preservation during economic instability [4] Group 4: Inflation and Economic Indicators - Investors are focused on the upcoming US Consumer Price Index (CPI) data, a key indicator of inflation that could provide insights into the health of the US economy [4] - Higher-than-expected CPI data may intensify inflation concerns, potentially driving gold prices up, while lower-than-expected data could complicate the Federal Reserve's interest rate decisions [4] Group 5: Technical Analysis - Paper gold is facing critical resistance and support levels, with the 795-805 CNY range acting as significant resistance and the 740-750 CNY range as key support [5] - A breakthrough above the resistance could open further upside potential, while a drop below the support may trigger panic selling and further price declines [5]