The recent gold price has reached a record high, mainly driven by the escalation of global trade frictions and the expectation of the Fed's easing. Although the Trump administration has temporarily revoked tariffs on some goods, it has threatened to impose tariffs on automobiles, semiconductors and pharmaceuticals. The repeated policies have exacerbated the market's risk aversion. At the same time, the market expects the Fed to cut interest rates by 100 basis points in 2025, and the US dollar index has fallen to its lowest level since April 2022, further supporting gold prices.
Technically, gold prices are facing short-term correction pressure, with the key position below being supported by today's lowest point at 3312. If the opening high of 3344 is effectively broken above, it may rise to the 3358-3370 range again. In the medium and long term, trade uncertainty and expectations of monetary easing will still provide support for gold, but we need to be wary of the volatility risks brought about by policy easing or a rebound in the US dollar. Focus on key price breakthrough signals and respond flexibly to short-term fluctuations.
Gold recommendations for the evening: Go long at 3317-3312, with a target of 3340.
Technically, gold prices are facing short-term correction pressure, with the key position below being supported by today's lowest point at 3312. If the opening high of 3344 is effectively broken above, it may rise to the 3358-3370 range again. In the medium and long term, trade uncertainty and expectations of monetary easing will still provide support for gold, but we need to be wary of the volatility risks brought about by policy easing or a rebound in the US dollar. Focus on key price breakthrough signals and respond flexibly to short-term fluctuations.
Gold recommendations for the evening: Go long at 3317-3312, with a target of 3340.
Trade active
Gold hit a new record high today, reaching 3357 in the short term. After the second high of 3356, the overall fluctuations tended to fall back, but the overall trend was still strong. The short-term fluctuations may be to accumulate momentum for further rise. Since tomorrow is Good Friday, the market will be closed all day, so it may remain cautious. The market is not expected to be too much, and it is expected to fluctuate at high levels. For the time being, pay attention to the fluctuations in the 3290-3350 range, and mainly operate around this range.Trade closed: target reached
Gold has fluctuated and fallen during the day. After the European session fluctuated and broke the low, there is a high probability that there will be a low point in the US session. The lower support remains at 3305 and 3294. In terms of operation, wait for the end of the decline to go long, and then gradually look to 3332 and 3358 above. The overall upward trend has not changed, and it is treated as a short-term correction.Operation suggestion: Gold is long near 3294, and look at 3328 and 3358! Shorting is possible if the upper pressure of 3330-35 is not broken!
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For every friend who proposes cooperation, I will do my best and use my professional strength to help you make profits. I have helped many members achieve stable profits. Join the Telegram group and start your journey of making https://money.https://t.me/TP_Dani
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.