News side:
Spot gold fell slightly in the European market on Tuesday (September 12), with the current gold price trading around $1,920 per ounce. Gold has been affected by conflicting forces over the past few weeks, which continues to be reflected in volatile gold price movements. The powerful mixture of expectations for interest rate hikes by the Federal Reserve, concerns about global economic growth, and dollar fluctuations has trapped gold prices in a wide range of fluctuations.
Overall inflation is expected to rise sharply in August due to rising energy prices, but all eyes will be on core CPI data, where year-on-year growth is expected to cool, while month-on-month growth is expected to remain unchanged. Ultimately, further signs of cooling inflationary pressures could fuel debate over the end of the Fed's rate-hiking cycle. Notably, traders currently see a 7% chance of the Fed raising interest rates by 25 basis points this month, with that probability jumping to 44% by November, according to data from federal funds futures.
Gold technical analysis:
Gold remains in a bearish channel on the weekly chart. However, gold prices found strong support at 1915, which is where the 200-day moving average lies. Looking at gold from the daily line, despite rebounding from the 200-day moving average, gold prices are still trapped in a range, with support at 1915 and resistance at 1931, which is also where the 50-day moving average is located. Gold may be in the process of a technical rebound or correction, and both technical and fundamental factors will determine the trend of gold prices this week. Looking at gold from the 4-hour line, the bearish tendency is more obvious, the price is running below important moving averages, and short-term indicators have turned bearish across the board.
Overall, I still recommend shorting on the rebound in gold operations tonight!
Evening gold operation strategy:
Short order strategy: It is recommended to go short between 1923 and 1926, stop loss at 1931, and target around 1910;
Long order strategy: It is recommended to go long between 1910 and 1908, stop loss at 1902, and target around 1920.
If you want to get accurate transactions, contact me directly
Spot gold fell slightly in the European market on Tuesday (September 12), with the current gold price trading around $1,920 per ounce. Gold has been affected by conflicting forces over the past few weeks, which continues to be reflected in volatile gold price movements. The powerful mixture of expectations for interest rate hikes by the Federal Reserve, concerns about global economic growth, and dollar fluctuations has trapped gold prices in a wide range of fluctuations.
Overall inflation is expected to rise sharply in August due to rising energy prices, but all eyes will be on core CPI data, where year-on-year growth is expected to cool, while month-on-month growth is expected to remain unchanged. Ultimately, further signs of cooling inflationary pressures could fuel debate over the end of the Fed's rate-hiking cycle. Notably, traders currently see a 7% chance of the Fed raising interest rates by 25 basis points this month, with that probability jumping to 44% by November, according to data from federal funds futures.
Gold technical analysis:
Gold remains in a bearish channel on the weekly chart. However, gold prices found strong support at 1915, which is where the 200-day moving average lies. Looking at gold from the daily line, despite rebounding from the 200-day moving average, gold prices are still trapped in a range, with support at 1915 and resistance at 1931, which is also where the 50-day moving average is located. Gold may be in the process of a technical rebound or correction, and both technical and fundamental factors will determine the trend of gold prices this week. Looking at gold from the 4-hour line, the bearish tendency is more obvious, the price is running below important moving averages, and short-term indicators have turned bearish across the board.
Overall, I still recommend shorting on the rebound in gold operations tonight!
Evening gold operation strategy:
Short order strategy: It is recommended to go short between 1923 and 1926, stop loss at 1931, and target around 1910;
Long order strategy: It is recommended to go long between 1910 and 1908, stop loss at 1902, and target around 1920.
If you want to get accurate transactions, contact me directly
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