Analysis of gold news:
On Friday, as the market waited for the China-US talks, the US dollar index softened, once hitting a low of 100.08, and finally closed down 0.21% at 100.42. The benchmark 10-year US Treasury yield closed at 4.3890%; the two-year US Treasury yield, which is more sensitive to monetary policy, closed at 3.9100%.
As India-Pakistan relations continued to warm up last week, boosting risk aversion, spot gold broke below $3,280 on Friday and continued to rebound, and finally closed up 0.68% at $3,326.46. Spot gold opened lower at $41 on Monday, as the Chinese press conference pointed out that the high-level economic and trade talks between China and the United States had made substantial progress, and Trump announced that he would release one of the most important and influential contents.
Technical analysis of gold:
Today, the gold price in the Asian session opened sharply lower, mainly because of the influence of geopolitical factors. India and Pakistan fully ceased fire, Trump announced a ceasefire agreement with the Houthi armed forces, and Russia and Ukraine also heard that they would cease fire for 30 days. Geopolitical risks have cooled down, and the attractiveness of gold as a safe-haven asset has declined. In addition, the high-level economic and trade talks between China and the United States were held in Geneva, Switzerland and made substantial progress. Most people in the market believe that the tariff war is nearing its end, which has suppressed the safe-haven demand for gold.
For the intraday market, it did not further strengthen after opening low, but continued to fall after opening low. For the layout of the day, the direction is already very clear. We just need to follow the trend. Pay attention to the high point of the one-hour line pullback at 3290 pressure level during the session. We will sell it when the gold price rebounds to around 3290-3300 in the future!
Buy range: 3254-3255, SL: 3244, TP: 3275-3285
Sell range: 3290-3292, SL: 3302, TP: 3270-3260
Key points:
First support: 3255, second support: 3245, third support: 3235
First resistance: 3290, second resistance: 3300, third resistance: 3310
On Friday, as the market waited for the China-US talks, the US dollar index softened, once hitting a low of 100.08, and finally closed down 0.21% at 100.42. The benchmark 10-year US Treasury yield closed at 4.3890%; the two-year US Treasury yield, which is more sensitive to monetary policy, closed at 3.9100%.
As India-Pakistan relations continued to warm up last week, boosting risk aversion, spot gold broke below $3,280 on Friday and continued to rebound, and finally closed up 0.68% at $3,326.46. Spot gold opened lower at $41 on Monday, as the Chinese press conference pointed out that the high-level economic and trade talks between China and the United States had made substantial progress, and Trump announced that he would release one of the most important and influential contents.
Technical analysis of gold:
Today, the gold price in the Asian session opened sharply lower, mainly because of the influence of geopolitical factors. India and Pakistan fully ceased fire, Trump announced a ceasefire agreement with the Houthi armed forces, and Russia and Ukraine also heard that they would cease fire for 30 days. Geopolitical risks have cooled down, and the attractiveness of gold as a safe-haven asset has declined. In addition, the high-level economic and trade talks between China and the United States were held in Geneva, Switzerland and made substantial progress. Most people in the market believe that the tariff war is nearing its end, which has suppressed the safe-haven demand for gold.
For the intraday market, it did not further strengthen after opening low, but continued to fall after opening low. For the layout of the day, the direction is already very clear. We just need to follow the trend. Pay attention to the high point of the one-hour line pullback at 3290 pressure level during the session. We will sell it when the gold price rebounds to around 3290-3300 in the future!
Buy range: 3254-3255, SL: 3244, TP: 3275-3285
Sell range: 3290-3292, SL: 3302, TP: 3270-3260
Key points:
First support: 3255, second support: 3245, third support: 3235
First resistance: 3290, second resistance: 3300, third resistance: 3310
Note
Pay attention to the Sino-US Geneva economic and trade talks, and profit from selling according to the trend. Note
News: Gold prices weakened at the start of the new week as the latest optimism about the US-China trade deal continued to weaken demand for traditional safe-haven assets. At the same time, positive signals from the US-China negotiations eased market concerns about a US recession. This, coupled with the Fed's hawkish "holding back", helped the dollar stabilize near multi-week highs and put pressure on gold.Technical: At the daily level, the Bollinger Bands closed and flattened, the 5-day moving average and the 10-day moving average were entangled near the middle track. The current price is running below the middle track, and the 5-day moving average turned downward. The technical side shows that the current gold price is oscillating and bearish! At the 4-hour level, the green kinetic energy column of the MACD indicator increased in volume, indicating that the downward momentum has increased, while the KDJ indicator formed a dead cross, and the short-term pressure pattern continued. Comprehensive analysis of the evening suggestions: sell first and then buy; focus on the upper resistance line of 3252, and break the position to see the suppression of 3273; focus on the 3202 line in the short term, and break the position to see the support of 3193! GOLD watershed: 3300!
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✅Daily analysis and strategies
✅ Free Signals check out my Telegram group: t.me/GoldenView_analysis
✅ Free Signals check out my Telegram group: t.me/GoldenView_analysis
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.