Market review: Yesterday, after data showed U.S. manufacturing contracted for a sixth straight month in April, gold reversed its gains and again fell below the 2,000 mark, while the dollar regained ground above 102. The latest COMEX gold futures contract traded at $688 million at 10 p.m. on May 1. Gold and silver suddenly broke down and are now hovering around 1,980. Technical analysis: The third bank failure in the United States this year did not impact the market. Although gold broke the 2000 level in a short time on Monday, the market reaction was particularly strong. To put it plainly, the market still does not want gold to stay above the 2000 level for long. But it hasn’t been announced yet and there’s still the possibility of surprises. Three of the 30 largest banks in the United States failed in less than two months, and then the gold market was little changed after the bankruptcy of First Peace Bank and the news that jpmorgan Chase was buying most of the failed bank’s assets. The information on the U.S. banking sector is now further muted, which means the market will remain on the defensive in anticipation of the financial markets, Gold is now facing the prospect that the Fed may be more hawkish than expected, and given the recent increase in inflationary pressures, [the Fed] may delay signalling that they are ready to hold interest rates steady after raising them again. The Fed may choose to remain vigilant, something markets are not yet ready to price in. After all, the Fed is clearly divided. This week, the focus will be on the outcome of the compromise between the two sides. The Fed will continue to maintain the bias of only continuing to raise interest rates in its statement, rather than a firm pause signal. This dealt a heavy blow to future bulls in the gold market. The key to today’s gold is 1970~1980 interval support, once below here will mean breaking the market most people’s expectations of support, then the market will ignite the trend of breaking 1950 ‘1930, of course, on the idea of our 2000 mark position can still hold down to see, yesterday’s reaction is very obvious two thousand mark touched on the blow, Hour figure big V shape reversal vividly, although tomorrow is the grand finale, but today we first see whether the support can be difficult, below the trend can see. Silver prices yesterday high fall, bulls will be the last trace of energy completely used for the outbreak, the daily line and the weekly line to form a sharp lightning rod, the next technical form has been bearish, although at this time located near 24.9, but below the heart has been 24.1~23.5 interval, we can continue to see the upside in 25.5 positions, Waiting for big brother gold further down to break position, after all, the ratio of gold and silver need to narrow the gap, silver price can be further drastic downward. Today’s focus Us March JOLTs job openings (10,000), US March factory orders m/m The above written by Moshi, content is for reference only