Gold prices fluctuate ahead
Updated
Last week, the Asian market opened. Affected by geopolitics in the Middle East, international gold prices opened high and then fell back, causing large market fluctuations. Several Federal Reserve officials will speak this week, and investors will need to pay close attention.
From a technical point of view, the international gold price is under heavy selling pressure. The dividing line between long and short prices this week has been adjusted to US$2,360 per ounce, and is currently hovering near the dividing line. However, judging from the 1-hour chart, the international gold price has entered the short model again. If it cannot regain its footing above this week's watershed, then the probability of continued correction is relatively high. On the downside, support can be focused on around US$2,287/ounce, while on the upside, resistance can be focused on around US$2,416/ounce.
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