Spot gold traded around 2910 on Monday. Gold prices rose last week, helped by safe-haven inflows and the US employment report showing lower-than-expected job growth in February, suggesting that the Fed is expected to cut interest rates this year.
News Interpretation: The Fed Chairman said at the New York Economic Forum that the Trump administration's tariff plan may push up inflation, but its impact remains to be seen. He stressed that the Fed does not need to rush to cut interest rates before it has more information, but should remain on the sidelines. February Consumer Price Index (CPI) data will be released on Wednesday. Since the Fed will be in a silent period before its policy meeting on March 18-19, the inflation report may affect the market's pricing of the Fed's interest rate outlook and drive gold's trend.
Gold Trend Analysis: Gold prices have been tested below $2930 many times, but have failed to achieve an effective breakthrough. This key pressure level has successfully blocked the upward pace of gold prices in multiple rounds of market fluctuations in the past, and its effectiveness has been fully verified. In the subsequent operation plan, investors can focus on the vicinity of $2,930, which is in a sensitive range below the pressure level. Market sentiment reacts strongly to price fluctuations. Once a short-selling signal appears, it is an ideal time to enter the market. At the same time, in order to effectively avoid the possible risk of price rebound, the defensive position is reasonably set at $2,935. This price is higher than the key pressure level, which can minimize the triggering of stop losses due to short-term market fluctuations and ensure the stability of the trading strategy. GOLDXAUUSDXAUUSDXAUUSDUSOILXAUUSD
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✔Copy accurate trading signals✔Manage accounts🎁Stable profit of more than 188.6% per week🎁Success rate is as high as 96.85%. If you want to recover a large loss, leave me a message t.me/BeckLedley Trading entrance: t.me/FcCygjylf
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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.