https://www.tradingview.com/x/1Y7aXrlL/
Gold prices opened sharply lower today, primarily due to the easing of Sino-US trade tensions and the rapid dissipation of risk aversion. Furthermore, data on slowing US inflation reinforced market expectations for a Federal Reserve rate cut, a fundamental factor that provides potential support for gold prices. However, short-term market sentiment is driven by news, with buying retreating and selling intensifying, overshadowing the positive interest rate outlook and putting pressure on gold prices. Furthermore, the risk of a US government shutdown, a potential risk-off factor, is gradually accumulating as the deadline approaches, warranting continued monitoring.
Judging from the trend, the price of gold has fallen from the high point reached last weekend and opened directly lower at the opening today. Subsequently, the market exhibited a typical "low-open-cover-shortage" pattern: after opening lower, it rebounded rapidly due to technical covering demand, attempting to fill the gap from Friday's closing price. However, after reaching the high, it retreated again, indicating significant upward pressure and intense trading between bulls and bears in the current range. Overall, gold prices remain volatile in the short term, driven by news such as the trade situation. Focus will be on US and Chinese policy developments, statements from Federal Reserve officials, and real-time changes in capital flows; these will be key to disrupting the current equilibrium.
Gold Recommendation: Long positions should be placed on a pullback to the 4065-4060 range. Stop loss at 4050, target at 4100.
Gold prices opened sharply lower today, primarily due to the easing of Sino-US trade tensions and the rapid dissipation of risk aversion. Furthermore, data on slowing US inflation reinforced market expectations for a Federal Reserve rate cut, a fundamental factor that provides potential support for gold prices. However, short-term market sentiment is driven by news, with buying retreating and selling intensifying, overshadowing the positive interest rate outlook and putting pressure on gold prices. Furthermore, the risk of a US government shutdown, a potential risk-off factor, is gradually accumulating as the deadline approaches, warranting continued monitoring.
Judging from the trend, the price of gold has fallen from the high point reached last weekend and opened directly lower at the opening today. Subsequently, the market exhibited a typical "low-open-cover-shortage" pattern: after opening lower, it rebounded rapidly due to technical covering demand, attempting to fill the gap from Friday's closing price. However, after reaching the high, it retreated again, indicating significant upward pressure and intense trading between bulls and bears in the current range. Overall, gold prices remain volatile in the short term, driven by news such as the trade situation. Focus will be on US and Chinese policy developments, statements from Federal Reserve officials, and real-time changes in capital flows; these will be key to disrupting the current equilibrium.
Gold Recommendation: Long positions should be placed on a pullback to the 4065-4060 range. Stop loss at 4050, target at 4100.
Hey, everyone. I'm Yulia, a girl from Russia working as an analyst in New York, USA. I've been doing this job for 13 years. I have professional financial knowledge. I hope you like me.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Hey, everyone. I'm Yulia, a girl from Russia working as an analyst in New York, USA. I've been doing this job for 13 years. I have professional financial knowledge. I hope you like me.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.