What does the price of gold depend on?
Hello traders, I am a senior trader and an analyst. I often share my various opinions occasionally through various channels. It’s a pleasure to meet you all at tradview today.
The price range of gold has been very large in recent consecutive months, with the price ranging from 1950 to 1810 to 1963 yesterday. Many traders lose their account funds, but if you don’t figure out why, you will still make the mistake next time,
Gold trading looks at the long term, ETF holdings of gold, U.S. bond yields, and the short term looks at fundamental news, as well as technical analysis. The current price of gold has been rising, and there are great hidden dangers. We all know that buying gold has caused the price of gold to rise due to the Palestinian-Israeli conflict, but ETFs have been reducing their holdings of gold, and U.S. bond yields have been reaching new highs. We are buying You need to be vigilant at all times when investing in gold, as these two risks can occur at any time.
The current fundamental news is that the Palestinian-Israeli conflict is still in a stalemate, and there has been an escalation trend in recent days. We are long and set a stop loss. From a technical perspective, we see that gold has a correction trend, so I recommend that you buy gold instead of selling gold, because The profit from a sell order will be very small, but a loss will be devastating. However, do not take a heavy position when buying gold. It will be safer to wait for the price to fall before buying. My operational advice to you is:
Gold: buy1935-1940 tp1952-1955 sl1930
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