After the opening of the Asian trading session on Monday (April 1), spot gold rose sharply, with the gold price reaching a maximum of $2,265, a record high. Global geopolitical tensions are one of the reasons for the rise in gold prices, and investors may consider gold as a neutral reserve asset. Strong safe-haven demand, expectations of U.S. interest rate cuts and central bank buying have given gold prices another upward momentum. The short-term cycle is currently experiencing high fluctuations, and there is demand for a pullback. Therefore, in the current short cycle, we are waiting for the end of the hourly and 4-hour bulls; then we are currently focusing on the high point of 2270, breaking through the price and continuing to surge upward. On the contrary, there will be demand for the price to fall back. My suggestion is to go short near the high price of 2265-2268 US dollars. TP: USD 2150 Second TP: $2142 SL: $2278
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Gold is undergoing a short-term correction
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Gold prices are expected to continue to fluctuate and fall within a narrow range
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Gold is now showing a downward trend
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Gold price now near $2,250
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Although gold is currently showing a downward trend, in order to prevent gold from rebounding, do not place heavy positions
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Wait for gold price to reach around $2240
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When the price of gold reaches around $2,243 An upward rebound occurs
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Gold prices have now fallen to $2,235
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Gold prices now plummet, down $30 from peak
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Gold has rebounded briefly after continuing to fall, but the overall trend will be downward
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After a brief rebound in gold prices It is now down near $2238
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Gold is currently showing a strong downward trend and is expected to be supported around $2,220
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Gold prices are currently in a state of shock
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Gold price is pulling back due to resistance from above