CICC Wealth Futures: US stocks' unilateral upward trend shows signs of weakening; gold's decline is in line with expectations
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Glonhui May 18|According to CICC Wealth Futures, gold has fallen below the key 4600 level, which aligns with our expectations. We have consistently emphasized that the recent gold market is mainly influenced by oil prices (inflation) and the U.S. stock market. Previously, the strong performance of U.S. stocks provided certain support for gold prices, but now the unilateral bullish trend in the U.S. stock market is showing signs of weakening. Combined with the ongoing pressure from high oil prices on gold, the decline in gold is in line with expectations.
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