Gold latest market trend analysis:
Gold news analysis: On Tuesday (October 3), gold recovered sharply from $1,915, and gold prices fell for a seventh consecutive day, which has fallen to a near seven-month low. The hawkish outlook from the Fed, rising US bond yields, and a bullish dollar continue to weigh on precious metals. Technical analysis pointed out that under the risk aversion and RSI oversold, gold prices rebounded from multi-month lows in the short term, but they are not really out of the woods yet. Gold has been trading lower after Fed officials warned that sticky inflation could lead to at least one more rate hike in 2023 and reiterated their talk of a longer run higher in September. In addition, the forthcoming resilient macro data in the US supports the prospect of further tightening by the Federal Reserve and continues to support the rise in US Treasury yields. Gold extended losses for a seventh straight session on Tuesday, hitting a near July low as a firm dollar and the prospect of a US rate rise took the shine off the metal.
Fed Chairman Jay Powell has expressed hope that hiring will be moderated in the least painful way possible - by reducing job openings and job-hopping, rather than through layoffs. So far, the economy has cooperated. Job openings and quits are down from their peaks, while the unemployment rate - 3.8% in August - remains near its lowest level in half a century. Inflation, which hit a four-year high in mid-2022, has slowed significantly over the past year, raising hopes that the Fed can pull off a so-called soft landing - raising rates enough to rein in price rises without causing the economy to plunge into recession in a significant way. That, in turn, pushed the dollar to its highest level since November 2022 and drove money out of non-yielding gold assets. The market is now pricing in a 45 per cent chance that the Fed will raise rates by another 25 basis points (bps) this year, a prospect that has pushed the yield on benchmark 10-year US government bonds to a 16-year high. The dollar also rose to its highest level since November 2022 and continued to undermine gold prices, with bulls failing to take any respite from the weak risk tone.
Gold technical analysis: Gold trend analysis: The general trend is still bearish, and the recent gap has not rebounded, so a small rebound can only be regarded as a correction form. The overall structural pressure of the weekly line is still bearish, the daily line is revised to break the low again, then today's trend is still bearish, the current rebound is very limited, and reflects even negative, you can wait for the rebound in the empty. From the daily line analysis, the short-term resistance above today continues to pay attention to yesterday's opening of the 1830 line, intra-day reverse draw relying on this position to continue to see the main short fall, the lower target is still concerned about breaking the bottom, the recent weak and weak divide moved to the 1850 line, the daily level did not break through and stand firm before any reverse draw are short opportunities, keep the trend to participate in the main tone unchanged.
This week non-farm week, starting from Wednesday, the data will affect the market trend, early week gold broke down, near 1810 line, technical, gold has been oversold signal, we short the trend at the same time, close to the early 1800 support, also need to consider the low rebound, rebound strength is strong, need signals to give, However, there is still room for 20-30 US dollars, and the daily level has been closed for six consecutive trading days to suppress the downward bottoming, continuing the recent extremely weak bearish unilateral downward rhythm. The 4-hour chart is almost a unilateral weak fall without rebound, and it is under pressure from the short-term average line, and the rebound space is small. The 4-hour chart previously constituted a high point in 1880, and it has been far away. The 10-unit average is a weak defensive point. Relying on the 10-moving average unilateral bearish. The dollar is strong in the short term, and gold will continue to remain low and fluctuate to rise today. Operation on the dip can do more, find a rebound entry point. Very weak market, batch open positions. The fluctuation base increases, the loss level is also adjusted appropriately, and the position is slightly controlled. In summary, today's gold short-term operation ideas suggest that the rebound is mainly short, the callback is supplemented by more, the short-term focus on the resistance of 1833-1838, and the short-term focus on the support of 1810-1805.
Gold news analysis: On Tuesday (October 3), gold recovered sharply from $1,915, and gold prices fell for a seventh consecutive day, which has fallen to a near seven-month low. The hawkish outlook from the Fed, rising US bond yields, and a bullish dollar continue to weigh on precious metals. Technical analysis pointed out that under the risk aversion and RSI oversold, gold prices rebounded from multi-month lows in the short term, but they are not really out of the woods yet. Gold has been trading lower after Fed officials warned that sticky inflation could lead to at least one more rate hike in 2023 and reiterated their talk of a longer run higher in September. In addition, the forthcoming resilient macro data in the US supports the prospect of further tightening by the Federal Reserve and continues to support the rise in US Treasury yields. Gold extended losses for a seventh straight session on Tuesday, hitting a near July low as a firm dollar and the prospect of a US rate rise took the shine off the metal.
Fed Chairman Jay Powell has expressed hope that hiring will be moderated in the least painful way possible - by reducing job openings and job-hopping, rather than through layoffs. So far, the economy has cooperated. Job openings and quits are down from their peaks, while the unemployment rate - 3.8% in August - remains near its lowest level in half a century. Inflation, which hit a four-year high in mid-2022, has slowed significantly over the past year, raising hopes that the Fed can pull off a so-called soft landing - raising rates enough to rein in price rises without causing the economy to plunge into recession in a significant way. That, in turn, pushed the dollar to its highest level since November 2022 and drove money out of non-yielding gold assets. The market is now pricing in a 45 per cent chance that the Fed will raise rates by another 25 basis points (bps) this year, a prospect that has pushed the yield on benchmark 10-year US government bonds to a 16-year high. The dollar also rose to its highest level since November 2022 and continued to undermine gold prices, with bulls failing to take any respite from the weak risk tone.
Gold technical analysis: Gold trend analysis: The general trend is still bearish, and the recent gap has not rebounded, so a small rebound can only be regarded as a correction form. The overall structural pressure of the weekly line is still bearish, the daily line is revised to break the low again, then today's trend is still bearish, the current rebound is very limited, and reflects even negative, you can wait for the rebound in the empty. From the daily line analysis, the short-term resistance above today continues to pay attention to yesterday's opening of the 1830 line, intra-day reverse draw relying on this position to continue to see the main short fall, the lower target is still concerned about breaking the bottom, the recent weak and weak divide moved to the 1850 line, the daily level did not break through and stand firm before any reverse draw are short opportunities, keep the trend to participate in the main tone unchanged.
This week non-farm week, starting from Wednesday, the data will affect the market trend, early week gold broke down, near 1810 line, technical, gold has been oversold signal, we short the trend at the same time, close to the early 1800 support, also need to consider the low rebound, rebound strength is strong, need signals to give, However, there is still room for 20-30 US dollars, and the daily level has been closed for six consecutive trading days to suppress the downward bottoming, continuing the recent extremely weak bearish unilateral downward rhythm. The 4-hour chart is almost a unilateral weak fall without rebound, and it is under pressure from the short-term average line, and the rebound space is small. The 4-hour chart previously constituted a high point in 1880, and it has been far away. The 10-unit average is a weak defensive point. Relying on the 10-moving average unilateral bearish. The dollar is strong in the short term, and gold will continue to remain low and fluctuate to rise today. Operation on the dip can do more, find a rebound entry point. Very weak market, batch open positions. The fluctuation base increases, the loss level is also adjusted appropriately, and the position is slightly controlled. In summary, today's gold short-term operation ideas suggest that the rebound is mainly short, the callback is supplemented by more, the short-term focus on the resistance of 1833-1838, and the short-term focus on the support of 1810-1805.
Trade closed: target reached:
GOLD1924-1926sell tp1915-1910 sl1934
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GOLD1924-1926sell tp1915-1910 sl1934 1910-1915BUY TP1924-1926 SL1907
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Trade active:
Gold 1925 sell orders lowest touched 1916, once again won a huge victory, missed no relationship back to 1924-1926 can continue to sell, below 1910-1915 can buy, trading set a stop loss, let us continue to maintain 100% win rate, seize the opportunity to make money
Trade active:
Gold 1925 sell orders lowest touched 1916, once again won a huge victory, missed no relationship back to 1924-1926 can continue to sell, below 1910-1915 can buy, trading set a stop loss, let us continue to maintain 100% win rate, seize the opportunity to make money
Trade active:
While gold is temporarily waiting for a chance after making gains, crude oil we have sold from 89.4 and reached our target of 87.5, another big win
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GOLD1926 SELL TP1915-1910 SL1936
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Close the sell peg in 1829 and then buy in 1828
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1828buy tp1940-1945 sl1918
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GOLD1823 buy tp1840-1845 SL1815
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A bottom in gold is about to form, we just need to buy gold at lower levels, stabilize holdings, and they will go back to 1880-1900 again