GOLD:Ranging between 4200-4280,awaiting guidance from news flows📈Gold exhibited a trend of surging higher and then pulling back today. In the early session, stimulated by news of localized conflicts in the Middle East, risk-aversion sentiment picked up, driving gold prices higher. After the opening, prices surged rapidly to 4,273.99. However, signs of de-escalation emerged afterward, cooling risk-aversion sentiment.
Meanwhile, factors such as early signs of a decline in U.S. auto loan rates and fading expectations of a Fed rate cut led some funds to shift from gold to U.S. dollar assets, resulting in a drop in gold prices.
📝From a technical perspective, the key resistance level above is around 4280. If gold can hold firmly above this level, it may form a short-term bottom structure and further test the 4362 level. A break above the previous high of 4379 would open the door to further upside. The support level below is near 4200; if this support fails to hold, gold prices may fall further to 4150 or even lower.
📝From a fundamental perspective, there are many uncertain factors in the market. While there are hints of news such as a Russia-Ukraine ceasefire and China-U.S. trade negotiations, the outcomes remain uncertain. If the negotiations do not go smoothly, it may once again benefit gold. Additionally, the probability of a U.S. government shutdown has increased, which provides some support for gold prices.
♦Overall, the Gold is likely to fluctuate within the 4200–4280 range in the short term, waiting for further guidance from fundamental news.
Buy 4220 - 4225 TP 4235 - 4245 - 4255 SL 4210
Sell 4270 - 4275 TP 4265 - 4255 - 4245 SL 4280
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