The gold market suffered a sharp sell-off on Tuesday, and the spot gold price once fell below the key psychological level of $3,300/ounce, reaching a low of around $3,285, as the US dollar index rebounded from a low of more than a month and concerns about the international trade situation cooled down. Although some bargain-hunting buying subsequently entered the market, pushing the gold price back slightly to around $3,310, the market continued to focus on the international trade situation, the outlook for US fiscal policy and the outlook for the Federal Reserve's monetary policy.
Key factors for the decline:
1. The US dollar rebounded strongly, and gold fell under pressure
2. The US fiscal crisis + interest rate expectations, gold bulls suffered a double blow
3. With the arrival of key data, gold prices may face violent fluctuations again
Henry Comprehensive Trend Analysis: Gold is weak in the short term, and investors need to be wary of further declines.
Gold prices are currently in a consolidation phase, but the downside risk has not yet been lifted. The short-term trend is still subject to the US dollar, interest rate expectations and economic data, and the battle for the $3,300 mark will be key. If the Federal Reserve releases hawkish signals or US economic data is strong, gold may face greater selling pressure. Although the expansion of the US fiscal deficit may support gold prices in the long run, in the short term, investors need to pay close attention to risk events this week to determine whether gold prices have bottomed out or will start a new round of decline. If the $3,300 mark is completely lost, gold prices may further drop to the $3,280-3,250 support area.
GOLD GOLD XAUUSD XAUUSD XAUUSD XAUUSD XAUUSD
Key factors for the decline:
1. The US dollar rebounded strongly, and gold fell under pressure
2. The US fiscal crisis + interest rate expectations, gold bulls suffered a double blow
3. With the arrival of key data, gold prices may face violent fluctuations again
Henry Comprehensive Trend Analysis: Gold is weak in the short term, and investors need to be wary of further declines.
Gold prices are currently in a consolidation phase, but the downside risk has not yet been lifted. The short-term trend is still subject to the US dollar, interest rate expectations and economic data, and the battle for the $3,300 mark will be key. If the Federal Reserve releases hawkish signals or US economic data is strong, gold may face greater selling pressure. Although the expansion of the US fiscal deficit may support gold prices in the long run, in the short term, investors need to pay close attention to risk events this week to determine whether gold prices have bottomed out or will start a new round of decline. If the $3,300 mark is completely lost, gold prices may further drop to the $3,280-3,250 support area.
GOLD GOLD XAUUSD XAUUSD XAUUSD XAUUSD XAUUSD 
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Good at solving all trading problems, doubling the account in a week, and making a stable profit of 300% in a month
🚀Private VIP: t.me/HenryDovitt
👍Market exclusive signal: t.me/Henryffjyfylffc108
🚀Private VIP: t.me/HenryDovitt
👍Market exclusive signal: t.me/Henryffjyfylffc108
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.