Guoxin Futures: gold and Silver shock is too strong to follow the CPI of the United States this week

Gold and silver futures were volatile on Wednesday. As of 1430, AU2206, the main contract of Shanghai Gold, temporarily reported 376.34 yuan / g, up 0.60%; AG2206, the main contract of Shanghai Bank, tentatively reported 4825 yuan / kg, up 1.03%.

Recently, monetary policy tightening in Europe and the United States accelerated, the European Central Bank's February meeting turned eagle, and the Bank of England raised interest rates more than expected. In the United States, non-farm payrolls rose more than expected in January and the labor force participation rate rose sharply. The strong labour market performance has raised the probability that the Fed will raise interest rates at least once (25bps) in March to 100% twice (50bps) to 33%. While the average hourly wage rose 5.7 per cent year-on-year, the vacancy rate is high, and inflation will remain high under the wage inflation spiral, providing support for precious metals, following this week's US CPI data is expected to rise further from the same period last year. Under the circumstances that the market's previous expectations of monetary policy tightening are more fully superimposed and high inflation continues, precious metals are still trapped in a volatile pattern. It is recommended to pay attention to gold 1800 US dollars / ounce (Shanghai gold 370 yuan / g). Silver is supported near US $21.40 / oz (Shanghai silver 4600 yuan / kg).

Operational advice: gold and silver bargain is much shorter.