Yesterday, the trend of the gold market was basically in line with expectations, stabilizing at the 2660 level after rebounding, and rising to around 2678 in the evening, showing a trend of bottoming out and rebounding. We previously expected the market price to receive support and rebound below 2665, but in reality, the lowest retracement was to 2660. The final daily line turned positive and closed. Defense point 2656 has not been refreshed.

The PPI data for December in the United States fell short of expectations, with an annual rate of 3.3%, lower than the expected 3.4%. Although it did not alleviate inflation anxiety, it brought a glimmer of hope for a rate cut in 2025. After the data was released, the US dollar plummeted sharply and gold briefly rose.

In the Middle East, the Gaza talks have entered the final stage, and the news of the release of prisoners from both sides has relatively eased the risk aversion. However, the Russia-Ukraine conflict continues, the conflict between Israel and neighboring countries has not been resolved, and gold's risk aversion support is still playing a long-term role.

Today, we need to focus on the December CPI data of the United States, which is expected to rise from 2.7 in November to 2.9 per year. The monthly rate remains unchanged at 0.3, and the core CPI is expected to rise by 0.2% month on month, with a year-on-year growth rate of 3.3%. This data will have a significant impact on the Federal Reserve's interest rate cut decision and the trend of gold.

In terms of daily structure, the rise of gold in this round shows a clear rhythm. After a self surge of $2726, it fell under pressure and briefly supported at the 2634 level. However, due to the Federal Reserve's decision, there was a major bearish pullback, reaching the level of $2583, but only ending with a bearish pullback. Subsequently, two positive rises followed by a negative correction, and then two negative corrections followed by another positive rise. Although there have been four corrections in the upward trend of the market price, none of them have exceeded the double negative trend, indicating a clear regularity in the adjustment of the daily rhythm. Yesterday, as the second trading day after the bearish candlestick, was a critical time point, marking the end of the correction cycle.

At present, the overall market price pattern is showing a spiral upward trend, with three advances and two retreats. Although it is not an extremely strong pattern, it belongs to a strong oscillation trend, and the upward rhythm remains unchanged. It is expected to continue the bullish trend this trading day.

Similarly, in a small-scale cycle, after continuing the backtesting on Monday this week, it stabilized at 2656 and began to fluctuate and rise, showing a trend of upward volatility. Therefore, the intraday market is bullish, and we cannot expect an excessive pullback to exit. We should focus on the 2669 line.

Today's layout reference:

Given that yesterday's market prices experienced small-scale fluctuations and rose after Monday's correction, which corresponds to the large cycle pattern, it is expected that there is not much room for intraday pullback. Today, you can pay attention to the opportunities below 2669 and continue to rise around this support level. Approach the short-term market with a strategy of retracement and long positions, as well as volatile bullish trends. It is expected that the bullish trend will continue this trading day.

Investment carries risks, and trading requires caution. The above suggestions are for reference only.