Gold retreats
Updated
In July, gold experienced a roller coaster-like fluctuation. In the first half of the month, it rose from $2,320 to $2,480, and in the second half of the month, it fell from $2,480 to $2,350.
From July 29 to August 2 this week, the gold market ushered in the intersection of many key factors, among which the movements of global central banks and important economic data became the focus of the market, and the fluctuation of gold will be more intense.
First, the Federal Reserve, the Bank of Japan and the Bank of England will hold interest rate meetings. In particular, the decision of the Federal Reserve is crucial to the gold market. The market will pay close attention to the Federal Reserve's statement on interest rate policy and its assessment of future economic prospects.
First: If the Federal Reserve releases a more dovish signal, suggesting that it may maintain an accommodative policy or slow down the pace of interest rate hikes in the future, then this will provide strong support for gold and may drive up gold prices.
Second: On the contrary, if the Federal Reserve's attitude is hawkish, emphasizing the strength of the economy and the pressure of inflation, it may bring certain pressure to gold, such as: the plan to cut interest rates in September is postponed, or the original interest rate is temporarily maintained because inflation has not reached the ideal target area. All these will weaken the market's current expectations, especially whether the July employment data and CPI will continue to cool down.
In addition, the interest rate meeting of the Bank of Japan is also worth paying attention to, and the interest rate meeting of the Bank of England is affected by factors such as the Brexit process. At the same time, the release of the latest economic data in the eurozone may have an impact on the ECB's September resolution. If the economic data performs poorly, it shows that the eurozone's economic growth is weak or facing downward pressure, which may prompt the ECB to consider a more relaxed policy at the September meeting.
In the United States, the release of July non-farm data will be one of the focuses of market attention. Non-farm employment data reflects the situation of the US labor market. In addition to paying attention to CPI and PCE, the US Federal Reserve has also been keeping a close eye on changes in the labor market for inflation issues.
In addition, after gold fell continuously near 2354, it rebounded on Friday and broke through the key pressure point of 2383, turning the originally weak market into a shock. The previous plunge from $2484 was just $130, which left room for gambling on this week's data.
In 4 hours, after the opening of today, the gold price took 2387 as support and quickly rose to 2403 US dollars. It just stepped back to 2387, but did not fall, which means that the market is not very weak now. Wait for the high to continue shorting
Therefore, the overall direction of today's strategy is still to fluctuate downward.
From July 29 to August 2 this week, the gold market ushered in the intersection of many key factors, among which the movements of global central banks and important economic data became the focus of the market, and the fluctuation of gold will be more intense.
First, the Federal Reserve, the Bank of Japan and the Bank of England will hold interest rate meetings. In particular, the decision of the Federal Reserve is crucial to the gold market. The market will pay close attention to the Federal Reserve's statement on interest rate policy and its assessment of future economic prospects.
First: If the Federal Reserve releases a more dovish signal, suggesting that it may maintain an accommodative policy or slow down the pace of interest rate hikes in the future, then this will provide strong support for gold and may drive up gold prices.
Second: On the contrary, if the Federal Reserve's attitude is hawkish, emphasizing the strength of the economy and the pressure of inflation, it may bring certain pressure to gold, such as: the plan to cut interest rates in September is postponed, or the original interest rate is temporarily maintained because inflation has not reached the ideal target area. All these will weaken the market's current expectations, especially whether the July employment data and CPI will continue to cool down.
In addition, the interest rate meeting of the Bank of Japan is also worth paying attention to, and the interest rate meeting of the Bank of England is affected by factors such as the Brexit process. At the same time, the release of the latest economic data in the eurozone may have an impact on the ECB's September resolution. If the economic data performs poorly, it shows that the eurozone's economic growth is weak or facing downward pressure, which may prompt the ECB to consider a more relaxed policy at the September meeting.
In the United States, the release of July non-farm data will be one of the focuses of market attention. Non-farm employment data reflects the situation of the US labor market. In addition to paying attention to CPI and PCE, the US Federal Reserve has also been keeping a close eye on changes in the labor market for inflation issues.
In addition, after gold fell continuously near 2354, it rebounded on Friday and broke through the key pressure point of 2383, turning the originally weak market into a shock. The previous plunge from $2484 was just $130, which left room for gambling on this week's data.
In 4 hours, after the opening of today, the gold price took 2387 as support and quickly rose to 2403 US dollars. It just stepped back to 2387, but did not fall, which means that the market is not very weak now. Wait for the high to continue shorting
Therefore, the overall direction of today's strategy is still to fluctuate downward.
Trade active
The market declined as expected, and we have taken profit near 2380. If you want to get the next new plan, you can click on my website.Trade active
At present, the market has rebounded briefly and short selling can still be continued near 2390.Trade active
Waiting for the opening, it is expected that XAUUSD will still fall, and the next target is 2360. For further planning, you can follow me or click on my website. I can't say that my sharing is 100% correct, but I can guarantee that it will help you 100%.Trade active
Our team releases a large number of accurate internal signals every day to create enough profits for everyone. If you need, you can click on my website.Trade active
Gold has opened, and the Asian session will rise. It is not recommended to short, and the rise will not be large. Gold will fall back in the European and US sessions. Pay attention to today's news. I will announce the specific transaction details on my website. I wish you a pleasant night.Trade active
Today's US news is bearish for gold and we have accurately made profits. If you are on my website, you will get this information in advance.Trade active
The first thing I do when I wake up is to publish today's trading signals on the website. We are extremely sure that we are bearish on gold. Now that our signals have been verified, enjoy the profits. If you don't want to miss the right trading signals, I suggest you click on my website.Note
I will update the trading signals and market information on the website as soon as I wake up. I guarantee that I can help you 100%. Good night.Trade active
I have been very busy these days. I have been helping my users on my personal website. I have been emphasizing on the website that we should buy gold around 2390 until we can make a profit at 2418. You can click on my website to check it out.
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