Gold trade analysis
Updated
The international gold price continued the downward trend of the previous two days and is currently testing the 2310 support level. Yesterday, the gold price once fell below the 2300 mark, but it rebounded under the stimulation of weaker than expected PMI data. After closing in the red for two consecutive trading days, spot gold came under further pressure during the day and is currently trading around $2,310. Yesterday it hit its lowest point since April 5 at $2,291.
The price of gold has tentatively positioned the market in the range of 2300-2342 during the day. There is a battle for two key points. The bottom is likely to rebound around the 2300 mark, while the key resistance above is the fight for 2332. If it can break through and stand firm, it will still be It will continue to test 2342 and 2350. It is recommended to focus on rebound operations during day trading.
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