Inflation in the United States remains high, and gold hits another high! Yesterday, gold prices hit another high, rising for four consecutive trading days, inflation concerns and the Ukraine crisis continued to push gold prices higher, but US stocks strengthened

Inflation in the United States remains high, and gold hits another high!

Gold prices hit another high yesterday, rising for four consecutive sessions, with inflation concerns and the Ukraine crisis continuing to push gold higher, but stronger U.S. stocks and hawkish speeches by Fed officials limited gains.

Gold-backed ETFs inflows of 46t (US$2.7 billion) in January, the highest monthly increase in holdings since May 2021. The average daily trading volume of gold has rebounded significantly. Data showed continued inflows into the gold market, a stronger dollar and a harder-than-expected Statement by the Federal Reserve were the main headwinds gold prices faced that month.

Gold prices recovered in the first few days of February to a two-week high as markets cooled initially to a two-week high in the first few days of February. An analysis of past austerity cycles shows that austerity tends to be less intense than initially anticipated. However, a strong US jobs report in January, coupled with a sharp revision of December expectations, opened the door for the Fed to adopt more aggressive austerity measures in the short term.

If U.S. inflation data beats expectations, the Fed will be closer to considering its biggest rate hike in more than two decades, and Fed Chairman Jerome Powell has hinted that the March meeting will kick-start. The US Consumer Price Index (CPI) for January, which will be released today, is the focus of the market.

Gold technical 1-hour chart, the moving average consistently running to form a bullish arrangement, an upward trend; the K line continues to break upwards, no resistance and the top pattern appears, strong features.