On Friday, gold opened at around 3175, quickly climbed to 3191, then fell back to 3183, and then broke out again, breaking through 3200 and continuing to 3219, and finally maintained in the 3220-3200 range. Near the European session, gold briefly fell back to 3187, but soon stabilized and broke through 3200 again, rising to 3237. After the European session, gold fell back to 3210 near 3237, but the bulls continued to recover and retreated to 3219 after hitting a new high of 3245 during the US session, and finally closed near 3237.
Next week's outlook:
Although the late trading on Friday was relatively calm, it is expected that there may be large fluctuations on Monday, especially a low opening. With the news of the United States relaxing tariffs, risk aversion has subsided, and gold may open lower, but a low opening does not necessarily mean a decline. Chen Feng's personal opinion is that gold is expected to challenge the 3250-3260 range. If gold rises to between 3250-3280, you can also consider placing short orders. Even if gold falls below 3200 on Monday, triggering market selling, I still recommend placing reverse long orders above 3200.
In general, the trend of the gold market is relatively complex, and operations need to be flexible, and you must not blindly follow the trend.
Next week's outlook:
Although the late trading on Friday was relatively calm, it is expected that there may be large fluctuations on Monday, especially a low opening. With the news of the United States relaxing tariffs, risk aversion has subsided, and gold may open lower, but a low opening does not necessarily mean a decline. Chen Feng's personal opinion is that gold is expected to challenge the 3250-3260 range. If gold rises to between 3250-3280, you can also consider placing short orders. Even if gold falls below 3200 on Monday, triggering market selling, I still recommend placing reverse long orders above 3200.
In general, the trend of the gold market is relatively complex, and operations need to be flexible, and you must not blindly follow the trend.
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.
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.