As of press time, spot gold has fallen wildly to below the support level of $3,300, having hit a record high of $3,500.05 the previous trading day.
At present, gold has fallen more than 5% from its historical high, and the fundamentals seem to be changing.
Quaid believes that gold has reached a key "turning point". After a strong rebound, the precious metal not only gave up all its gains, but also fell to a new low.
The sharp rise in gold prices is mainly due to the market pricing of "stagflation" risks, but as this risk is gradually eliminated, gold may experience a significant correction, especially considering that "long gold" has become one of the most crowded trades in the market, and its parabolic rise is an obvious signal. From a larger cycle perspective, gold is still in an upward trend, because the real yield may continue to decline against the backdrop of the Fed's easing policy. But in the short term, if good news about tariffs continues to be released, gold prices may fall further, and the market will adjust according to the new environment.
Daily chart analysis
From the daily chart, gold has given up all of Monday's gains. From a risk management perspective, buyers may look for a more cost-effective entry position at 3290 in the hope of further gains, while sellers hope that prices can break further down, thereby increasing bearish bets.
4-hour chart analysis
In the 4-hour chart, prices found support around 3300 and rebounded. Buyers intervened at this position and set risks below this support level in an attempt to push prices higher again. Sellers hope that prices fall below this level to push prices further down.
Quaid's analysis:
The current market is crazy. If it can fluctuate and adjust around the 3300 support level, the downward trend will stop and it may rise to 3400.
If this support level fluctuates and falls, it may plummet to around 3150.
Traders can wait and see for a short period of time before trading.
I hope Quid's analysis can help you get out of your current predicament. I also wish that all traders can fight for their own money waves in the market and achieve financial freedom under Quaid’s advice and analysis.
At present, gold has fallen more than 5% from its historical high, and the fundamentals seem to be changing.
Quaid believes that gold has reached a key "turning point". After a strong rebound, the precious metal not only gave up all its gains, but also fell to a new low.
The sharp rise in gold prices is mainly due to the market pricing of "stagflation" risks, but as this risk is gradually eliminated, gold may experience a significant correction, especially considering that "long gold" has become one of the most crowded trades in the market, and its parabolic rise is an obvious signal. From a larger cycle perspective, gold is still in an upward trend, because the real yield may continue to decline against the backdrop of the Fed's easing policy. But in the short term, if good news about tariffs continues to be released, gold prices may fall further, and the market will adjust according to the new environment.
Daily chart analysis
From the daily chart, gold has given up all of Monday's gains. From a risk management perspective, buyers may look for a more cost-effective entry position at 3290 in the hope of further gains, while sellers hope that prices can break further down, thereby increasing bearish bets.
4-hour chart analysis
In the 4-hour chart, prices found support around 3300 and rebounded. Buyers intervened at this position and set risks below this support level in an attempt to push prices higher again. Sellers hope that prices fall below this level to push prices further down.
Quaid's analysis:
The current market is crazy. If it can fluctuate and adjust around the 3300 support level, the downward trend will stop and it may rise to 3400.
If this support level fluctuates and falls, it may plummet to around 3150.
Traders can wait and see for a short period of time before trading.
I hope Quid's analysis can help you get out of your current predicament. I also wish that all traders can fight for their own money waves in the market and achieve financial freedom under Quaid’s advice and analysis.
The gold market is my stage. I'm Quaid, turning the market's waves into our wealth tides.
Free Channels：t.me/+x7us3B1HGThjMzQx
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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.
The gold market is my stage. I'm Quaid, turning the market's waves into our wealth tides.
Free Channels：t.me/+x7us3B1HGThjMzQx
Free Channels：t.me/+x7us3B1HGThjMzQx
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.