Market news:
In the early Asian session on Friday (April 11), spot gold continued to rise, reaching a high of $3,220/ounce, setting a new record high. The unexpected slowdown in US inflation dragged down the US dollar, and the international trade war continued to push investors to safe-haven gold. As trade tensions intensified, market risk aversion suddenly heated up, and the price of gold in London soared by more than $200!The first monthly price decline in nearly five years released by the U.S. Department of Labor on Thursday also showed that demand was weak amid growing concerns about a recession caused by tariffs, which also led financial markets to expect that the Federal Reserve may cut interest rates by 100 basis points this year. After the release of the U.S. CPI data, traders bet that the Federal Reserve will resume rate cuts in June, and may accumulate a 1 percentage point cut by the end of this year. Low interest rates are usually good for international gold because gold does not pay interest. As the situation of declining confidence has already formed, Federal Reserve officials are worried that this will further suppress consumption and investment. This week, Fed policymakers said they still believe that tariffs are a blow to economic growth and increase the risk of rising inflation, putting monetary policy at a difficult crossroads. Several Fed officials will still speak on Friday, and investors need to pay attention to them. In addition, they need to pay attention to the performance of the March PPI data, the international trade situation and the changes in market risk aversion.
Technical review:
The gold daily line closed with a big positive line with a gain of more than $100 yesterday. This single-day gain is extremely rare in more than 10 years. The market has been extremely crazy with a rise of $200 in two trading days. On Thursday, gold hit a new high in the US market. Market sentiment completely followed the tariff war. Technical analysis is pale and powerless to grasp it. We can only control risks and reduce positions to operate. The gold price stood on the middle track and the short-term moving average 5MA, that is, the 3030-3040 line, and the closing price was just above the MA10 daily line. This morning, gold continued to rise strongly relying on the MA10 daily line, and the current highest has reached the 3220 line. With such a strong impact, the rapid decline in the three trading days on the daily line has turned into a bottoming out and rebound. Whether it continues to break high or buy correction, it is just that the impact of the tariff war has accelerated the amplitude and time. According to the previous large rise, if the buying sentiment continues to be high, the next position is 3300.
Today's analysis
Gold has risen strongly, continuously setting new historical highs, and the buying momentum is strong! At the 4-hour level, the support level has moved up. The 1-hour moving average of gold has formed a golden cross upward buying arrangement, indicating that gold buying still has the power to rise further. At present, the gold price has set a new historical high, and it is not advisable to rush to chase the rise at this time. The short-term operation strategy can wait for the price to step back, and after stabilizing below, buy in combination with the support level. Today, the highest gold in the Asian session has risen to 3220, and the demand for risk aversion has increased. Most people have a high degree of attention and willingness to buy gold. Judging from the market trend, gold has already stood firm at the previous high of 3167, and the buying trend has continued. In the past few days, the daily increase in gold has exceeded 100 US dollars. I believe that the increase in gold prices today will not be too small, and today's gold is expected to further move towards the 3300 mark. Wait for a correction during the session and buy on the trend!
Operation ideas:
Buy short-term gold at 3177-3180, stop loss at 3168, target at 3220-3230;
Sell short-term gold at 3233-3236, stop loss at 3245, target at 3200-3190;
Key points:
First support level: 3200, second support level: 3185, third support level: 3170
First resistance level: 3223, second resistance level: 3236, third resistance level: 3250
In the early Asian session on Friday (April 11), spot gold continued to rise, reaching a high of $3,220/ounce, setting a new record high. The unexpected slowdown in US inflation dragged down the US dollar, and the international trade war continued to push investors to safe-haven gold. As trade tensions intensified, market risk aversion suddenly heated up, and the price of gold in London soared by more than $200!The first monthly price decline in nearly five years released by the U.S. Department of Labor on Thursday also showed that demand was weak amid growing concerns about a recession caused by tariffs, which also led financial markets to expect that the Federal Reserve may cut interest rates by 100 basis points this year. After the release of the U.S. CPI data, traders bet that the Federal Reserve will resume rate cuts in June, and may accumulate a 1 percentage point cut by the end of this year. Low interest rates are usually good for international gold because gold does not pay interest. As the situation of declining confidence has already formed, Federal Reserve officials are worried that this will further suppress consumption and investment. This week, Fed policymakers said they still believe that tariffs are a blow to economic growth and increase the risk of rising inflation, putting monetary policy at a difficult crossroads. Several Fed officials will still speak on Friday, and investors need to pay attention to them. In addition, they need to pay attention to the performance of the March PPI data, the international trade situation and the changes in market risk aversion.
Technical review:
The gold daily line closed with a big positive line with a gain of more than $100 yesterday. This single-day gain is extremely rare in more than 10 years. The market has been extremely crazy with a rise of $200 in two trading days. On Thursday, gold hit a new high in the US market. Market sentiment completely followed the tariff war. Technical analysis is pale and powerless to grasp it. We can only control risks and reduce positions to operate. The gold price stood on the middle track and the short-term moving average 5MA, that is, the 3030-3040 line, and the closing price was just above the MA10 daily line. This morning, gold continued to rise strongly relying on the MA10 daily line, and the current highest has reached the 3220 line. With such a strong impact, the rapid decline in the three trading days on the daily line has turned into a bottoming out and rebound. Whether it continues to break high or buy correction, it is just that the impact of the tariff war has accelerated the amplitude and time. According to the previous large rise, if the buying sentiment continues to be high, the next position is 3300.
Today's analysis
Gold has risen strongly, continuously setting new historical highs, and the buying momentum is strong! At the 4-hour level, the support level has moved up. The 1-hour moving average of gold has formed a golden cross upward buying arrangement, indicating that gold buying still has the power to rise further. At present, the gold price has set a new historical high, and it is not advisable to rush to chase the rise at this time. The short-term operation strategy can wait for the price to step back, and after stabilizing below, buy in combination with the support level. Today, the highest gold in the Asian session has risen to 3220, and the demand for risk aversion has increased. Most people have a high degree of attention and willingness to buy gold. Judging from the market trend, gold has already stood firm at the previous high of 3167, and the buying trend has continued. In the past few days, the daily increase in gold has exceeded 100 US dollars. I believe that the increase in gold prices today will not be too small, and today's gold is expected to further move towards the 3300 mark. Wait for a correction during the session and buy on the trend!
Operation ideas:
Buy short-term gold at 3177-3180, stop loss at 3168, target at 3220-3230;
Sell short-term gold at 3233-3236, stop loss at 3245, target at 3200-3190;
Key points:
First support level: 3200, second support level: 3185, third support level: 3170
First resistance level: 3223, second resistance level: 3236, third resistance level: 3250
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.