Gold opened sharply higher in the Asian session and hit a new record high. It broke through the 3230 mark in the late trading and stabilized. The price continued to rise in the trend and broke through the adjustment range of yesterday. There was no technical trend during the day. The large-volume rise occurred in the Asian session, and the price continued to hit a new record high. As investors turned to safe-haven assets amid the uncertainty brought by the continued tariff plan of US President Trump, additional tariffs could exacerbate the ongoing trade war and slow global economic growth.
As global stock markets bottomed, the pressure on gold finally eased, and the precious metal eventually rose sharply to a record high. This rise was very fierce because everyone rushed into the gold market, hoping to use it as a safe haven against the stagflation caused by the trade war. From a more macro perspective, gold is still in an upward trend because currency yields may continue to fall because the threshold for rate hikes remains very high.
Potential risks include another sharp sell-off in the stock market or a hawkish stance from the Federal Reserve. In the short term, given that gold's long positions are too concentrated, if the trade war eases, gold prices are likely to experience a deeper correction, so it is necessary to pay close attention to developments in this regard. The current environment still supports the rise of gold, but the road to gold price rise will not be smooth, and there may be a temporary correction in the middle.
Gold Asian session safe-haven directly broke through the new high, and the short-term adjustment of gold ended. Finally, the adjustment was completed in a volatile manner. This kind of strong bullish market with a breakthrough will basically not have a big decline. Since gold has chosen to break upward, it will follow the trend. Any decline in gold is an opportunity to buy.
The 1-hour moving average of gold began to turn upward. If the 1-hour moving average of gold continues to diverge upward, then the gold bulls will continue to exert their strength. After gold breaks through 3245, then gold 3245 has formed support in the short term. Buy on dips when gold falls back to 3245. After gold surges in the Asian session, you must wait patiently for the opportunity to pull back. If it falls back to around 3245, you can continue to buy.
Key points:
First support: 3253, second support: 3240, third support: 3225
First resistance: 3280, second resistance: 3300, third resistance: 3315
Operation ideas:
Buy: 3245-3248, SL: 3236, TP: 3280-3290;
Sell: 3293-3295, SL: 3304, TP: 3250-3240;
The recent investment risk is extremely high, and the real-time trend can change at any time. Please be cautious about trading signals.
As global stock markets bottomed, the pressure on gold finally eased, and the precious metal eventually rose sharply to a record high. This rise was very fierce because everyone rushed into the gold market, hoping to use it as a safe haven against the stagflation caused by the trade war. From a more macro perspective, gold is still in an upward trend because currency yields may continue to fall because the threshold for rate hikes remains very high.
Potential risks include another sharp sell-off in the stock market or a hawkish stance from the Federal Reserve. In the short term, given that gold's long positions are too concentrated, if the trade war eases, gold prices are likely to experience a deeper correction, so it is necessary to pay close attention to developments in this regard. The current environment still supports the rise of gold, but the road to gold price rise will not be smooth, and there may be a temporary correction in the middle.
Gold Asian session safe-haven directly broke through the new high, and the short-term adjustment of gold ended. Finally, the adjustment was completed in a volatile manner. This kind of strong bullish market with a breakthrough will basically not have a big decline. Since gold has chosen to break upward, it will follow the trend. Any decline in gold is an opportunity to buy.
The 1-hour moving average of gold began to turn upward. If the 1-hour moving average of gold continues to diverge upward, then the gold bulls will continue to exert their strength. After gold breaks through 3245, then gold 3245 has formed support in the short term. Buy on dips when gold falls back to 3245. After gold surges in the Asian session, you must wait patiently for the opportunity to pull back. If it falls back to around 3245, you can continue to buy.
Key points:
First support: 3253, second support: 3240, third support: 3225
First resistance: 3280, second resistance: 3300, third resistance: 3315
Operation ideas:
Buy: 3245-3248, SL: 3236, TP: 3280-3290;
Sell: 3293-3295, SL: 3304, TP: 3250-3240;
The recent investment risk is extremely high, and the real-time trend can change at any time. Please be cautious about trading signals.
Trade active
3295 fell to 3287. Running 80pipsTrade closed manually
From the current market, the price of gold has risen strongly again to a record high of 3317. The price gap between futures contracts and spot prices continues to widen. The accelerated rise of gold will lead to the inability of short contracts to be delivered at maturity. At that time, gold will have to be bought at a high price to close the position, and buyers and sellers will fall into a historic game stage.There is no need to analyze the technical side too much. For the time being, the fundamentals and technical aspects are all biased towards bulls, and there is still a long upward space in the future.
In summary, the intraday retracement continues to be bullish. First, pay attention to the support near 3288 below, and the upper target is 3330-3350 or higher. Secondly, focus on the previous high point 3246 top and bottom conversion position to continue buying.
Buy: 3286-3289, SL: 3278, TP: 3310-3330;
Buy: 3245-3249, SL: 3238, TP: 3370-3280;
🥇My free Telegram group(Updated daily):
t.me/JungoldAnalyst
✅Contact me
t.me/JunCopytrader
t.me/JungoldAnalyst
✅Contact me
t.me/JunCopytrader
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.
🥇My free Telegram group(Updated daily):
t.me/JungoldAnalyst
✅Contact me
t.me/JunCopytrader
t.me/JungoldAnalyst
✅Contact me
t.me/JunCopytrader
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.