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Gold rose rapidly today. At present, the price of gold has reached the 3386 line. There will be pressure to fill the gap and choose to bear the pressure.
Now that gold is adjusting and falling at 3386, don't rush to gamble and enter the market. Wait for time + point + harmonious position. The market will find support in an effective time. Now the effective support point of gold is about 3346/36. The price fluctuates violently. It is recommended to take a stop loss in time after entering the market to avoid a sudden accident in the market and cause unnecessary losses. Today's rising cycle can be seen in the 3400/3420 range. On the downside today, if the market changes and recovers the opening price, just wait and see. This kind of market is unlikely to occur, but if it occurs, you have to wait and see and don't be stubborn in your thoughts.
Market contradictions and potential risks:
Fed policy expectations: The market's probability of a rate cut in June has dropped to 37%. If the Fed releases hawkish signals this week, it may suppress gold prices.
ETF holdings diverge: Despite the rise in gold prices, the world's largest gold ETF (SPDR) holdings decreased by 4.87 tons, reflecting that some institutions sold off their holdings at high prices.
Geopolitical variables:
Middle East conflict escalates: If the friction between Iran and Israel intensifies, gold may hit $3,450; on the contrary, if the situation eases, the gold price may fall back to $3,300
Gold rose rapidly today. At present, the price of gold has reached the 3386 line. There will be pressure to fill the gap and choose to bear the pressure.
Now that gold is adjusting and falling at 3386, don't rush to gamble and enter the market. Wait for time + point + harmonious position. The market will find support in an effective time. Now the effective support point of gold is about 3346/36. The price fluctuates violently. It is recommended to take a stop loss in time after entering the market to avoid a sudden accident in the market and cause unnecessary losses. Today's rising cycle can be seen in the 3400/3420 range. On the downside today, if the market changes and recovers the opening price, just wait and see. This kind of market is unlikely to occur, but if it occurs, you have to wait and see and don't be stubborn in your thoughts.
Market contradictions and potential risks:
Fed policy expectations: The market's probability of a rate cut in June has dropped to 37%. If the Fed releases hawkish signals this week, it may suppress gold prices.
ETF holdings diverge: Despite the rise in gold prices, the world's largest gold ETF (SPDR) holdings decreased by 4.87 tons, reflecting that some institutions sold off their holdings at high prices.
Geopolitical variables:
Middle East conflict escalates: If the friction between Iran and Israel intensifies, gold may hit $3,450; on the contrary, if the situation eases, the gold price may fall back to $3,300
Trade active
Gold is about to rise after adjustmentTrade closed: target reached
The gold price is rising steadily, and now it is time to make profits.
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Our goal is simple, to provide the most professional guidance for free to help everyone make a profit
Related publications
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.