Is gold's safe-haven appeal waning or is it gathering momentum?Market news:
In the early Asian session on Wednesday (April 30), spot gold fluctuated in a narrow range and is currently trading around $3,318 per ounce. London gold prices fell 0.8% on Tuesday, and Trump said that China will absorb the new tariff shock. The weak labor market and consumer confidence data in the United States have raised market expectations for policy easing. This has put pressure on the price of safe-haven asset gold, while the US dollar has taken the opportunity to rebound.With the PCE inflation data and non-farm payrolls report about to be released, the market has entered a critical game period. On the one hand, the easing of tariffs has weakened the safe-haven appeal of gold; on the other hand, signs of economic slowdown have strengthened the Fed's expectations of a rate cut. In the short term, the rebound in risk appetite has suppressed gold prices; but if this week's data confirms the risk of a recession, the Fed may be forced to turn, and then international gold may usher in a new round of outbreaks! The current market sentiment shows a clear contradictory state. On the one hand, concerns about global trade tensions drive safe-haven demand, and on the other hand, expectations that the United States may ease its trade policy trigger profit-taking. This trading day will usher in the US first quarter GDP data and March PCE data, which are likely to be the winners and losers of the next trend of gold.
Technical Review:
Gold hit 3500 and began to fall. The current low is temporarily at 3260. The daily cycle has failed to break down after three trading days of testing. The pattern is a Yin-Yang line conversion, and it is a very obvious wide-range oscillation market. This trend should not be chased. The market has no continuity and is just going back and forth. The gold daily line has been alternating between Yin and Yang for 5 consecutive trading days, maintaining a wide range of oscillations. The short-term four-hour chart and hourly chart moving averages are glued together, the RSI stops and maintains the middle axis, and the Bollinger Bands gradually close, forming a box range oscillation of 3265/3385. The trading idea is to sell at a high price and buy at a low price to participate in the short-term.
Today's analysis:
Gold continues to fluctuate. The data in the second half of the week is dense. Gold is likely to wait for data to break through. It maintains a fluctuating trend before the data. Gold continues to rise and fall in the early trading. The rebound is still under pressure. Today's small non-agricultural data is also a key node for gold trading. So if gold chooses a direction, don't be obsessed. Gold continues to fluctuate in 1 hour, and the fluctuation range begins to narrow, which means that it is getting closer to a change. Gold is still fluctuating downward. Gold once again hit 3328 in the Asian session and fell under pressure. Tonight's small non-agricultural data, if gold breaks through the fluctuation today, then follow up at that time.
Operation ideas:
Buy short-term gold at 3298-3302, stop loss at 3290, target at 3330-3350;
Sell short-term gold at 3352-3355, stop loss at 3364, target at 3310-3300;
Key points:
First support level: 3300, second support level: 3275, third support level: 3260
First resistance level: 3340, second resistance level: 3355, third resistance level: 3373
Goldsell
Gold fluctuates and is bearish, waiting for NF
📌 Policy factors
Gold prices (XAU/USD) continued to fall, falling to $3,310 in the current European session on Wednesday, as signs of improved global risk sentiment and easing trade tensions curbed demand for safe-haven assets. Market participants remained cautious ahead of the release of major US economic data, including ADP employment changes, core PCE price index and first quarter GDP preliminary values, all of which are scheduled to be released later today.
It is reported that President Trump suddenly signed an executive order to provide automakers with up to 15% tariff rebates to ease the impact of his auto tariff policy. Even more unexpectedly, US Commerce Secretary Lutnick revealed that a trade agreement had been reached secretly with a certain country. These major changes immediately triggered a strong market reaction.
📊Comment Analysis
Gold price maintains the accumulation range of 3265-3360, temporarily stable and waiting for large fluctuations
💰Strategy Package
🔥Sell gold area: 3368-3370 SL 3375
TP1: $3350
TP2: $3340
TP3: $3330
🔥Buy gold area: $3264-$3262 SL $3257
TP1: $3280
TP2: $3300
TP3: $3318
🔥Buy gold area: $3285-$3283 SL $3280 scalping
TP1: $3290
TP2: $3295
TP3: $3300
⭐️ Note: Labaron hopes that traders can properly manage their funds
- Choose the number of lots that matches your funds
- Profit is 4-7% of the capital account
- Stop loss is 1-3% of the capital account
Gold is still on a volatile downward trendGold continues to fluctuate in the 1-hour chart, and the amplitude of fluctuations is beginning to narrow, which indicates that a change is getting closer. As for gold's current fluctuations, it is still in a downward trend.
Trading idea: short gold near 3318, stop loss 3330, target 3300
Gold is still volatile, buy at 3298-3305 in the US market
📊Comment analysis
Gold prices need economic news to break through the sideways price range of around 3300. Today, continue to wait and see around 3310, waiting for the right time to enter the market in time.
💰Strategy package
Long positions:
💲Actively participate in gold around 3298-3305 points, with a profit target around 3320 points
Short positions:
💲Actively participate in gold around 3320-3330 points, with a profit target around 3303 points
💢Precise sniping, follow the trading strategy = easy money
Gold (XAUUSD) Take Profit📉 Gold (XAUUSD) Trade Update
A few hours ago, I shared a short setup on gold — it has successfully hit the target and closed with a solid profit.
Looking ahead, there's still room for further downside. In the medium term, gold could decline towards the $3020 level.
🔔 I post detailed trade ideas and daily market analysis like this every day on my TradingView profile.
👉 Follow me to get notified and read the full breakdowns.
XAU/USD(20250429) Today's AnalysisTechnical analysis:
Today's buying and selling boundaries:
3321
Support and resistance levels:
3405
3374
3353
3289
3268
3237
Trading strategy:
If the price breaks through 3353, consider buying, the first target price is 3374
If the price breaks through 3321, consider selling, the first target price is 3289
Gold plunged $36 during Asian trading hours. What's the reason?Spot gold suddenly fell sharply during the Asian session, and the current price of gold is around $3,310/ounce, a plunge of $36 during the day.
In the optimistic market sentiment, the recovery of US dollar demand seems to put downward pressure on gold prices.
Quaid believes that optimism about the possible progress in trade negotiations between the United States and its major trading partners supports risk appetite, boosts the performance of the US dollar against major currency competitors, and gold sellers are trying to regain control.
The Wall Street Journal said that weakening the impact of auto tariffs is the latest concession of Trump's trade policy after market turmoil and fierce lobbying by companies and other countries.
Looking ahead to this trading day, trade headlines and the re-adjustment of positions at the end of the month will play a key role in driving gold prices.
Trading analysis:
From a technical point of view, gold prices are currently trying to break down again after failing to confirm a break below the three-week rising channel on Monday. However, as the 14-day relative strength index is still above the midline, any decline in gold prices may be quickly bought.
During Asian trading hours, gold must close at the rising trend line support of $3,300/oz to confirm a break below the rising channel. Long-term important support for gold prices is in the $3,260/oz area.
If gold prices continue to fall below the above level, a new downward trend towards the $2,975 area will begin.
If buyers defend the above channel support of $3,300/oz, a rebound to the static resistance of $3,370/oz will be inevitable. If gold prices continue to recover, the target will be $3,400/oz, followed by the historical high of $3,500/oz.
The market is currently in a state of sideways fluctuations. I hope Quaid's analysis can help all traders understand the trend of gold in depth.
Gold Market Outlook - Gold BearishGold is currently in a consolidation phase, trading within a range of $3,280 to $3,360. We are closely monitoring for a breakout in either direction.
Based on current technical analysis, there is a higher probability of a downside breakout below the support level of $3,280. If this support is breached, we may see the following downside targets:
Target 1: $3,270
Target 2: $3,260
Target 3: $3,250
Target 4: $3,240
Traders are advised to plan their positions accordingly, keeping risk management in focus.
3360 neckline is being tested!
📊Comment Analysis
Short-term short positions need to rebound further and confirm the signal before following. After the US market breaks through the 3360 defense point, it is temporarily not possible to continue to be bearish. The US market will first look at the rebound, and then make further arrangements after approaching the 3360 line.
💰Strategy Package
Long positions:
The US market temporarily enters the market to go long when gold falls back to around 3297-3310 US dollars. Target 3340, stop loss 3345.
Gold short-term profit is more fun
🌐 Driving factors
Geopolitical situation: US President Trump's special envoy Witkov held a three-hour meeting with Russian President Putin in Moscow last Friday to discuss the US plan to end the war in Ukraine. The Kremlin said that the positions of the two sides have become closer.
India accused Pakistan of sheltering terrorist organizations, and Pakistan denied it and accused India of instigating separatist activities in Pakistan (such as Balochistan). The situation is difficult to control.
Latest news: Russian President Putin announced on the 28th that a ceasefire will be implemented from 0:00 on May 8 to 0:00 on May 11.
Market bullish sentiment cools down
📊 Commentary analysis
According to the trend of gold in the Asian and European sessions, the trading signals derived from technical analysis have helped many people achieve short-term victories.
🔷 Technical side: For the current gold, the 1-hour chart card fluctuates widely between 3330-3292, and is currently around $3324.
✔Operational suggestions, short-term trading:
US gold operation strategy:
Short strategy: If gold falls back to the range of 3330-3350, you can enter the market to short, target 3270, stop loss 3355
💥Risk warning
Liquidity risk: The market may be bearish in early May, and price fluctuations may be amplified.
Policy black swan: Trump may suddenly change tariff policies or personnel changes at the Federal Reserve, causing violent market fluctuations.
Technical false breakthrough: There are a large number of stop-loss orders near $3350, and you need to be wary of reversals after inducing more.
Summary:
This week, the gold market will be affected by geopolitics, Federal Reserve policies and the trend of the US dollar, and the fluctuation range is expected to be between $3260 and $3350. Investors need to pay close attention to key support and resistance levels and adjust strategies flexibly.
JPMorgan Forecasts Strong 60-90% Growth for Gold Mining JPMorgan Forecasts Strong 60-90% Growth for Gold Mining Sector as Gold Prices Reach Record Highs
Meta Description:
JPMorgan predicts the global gold mining industry will grow by 60% to 90% thanks to record-breaking gold prices, increasing investment demand, and stable production costs. Where are the opportunities for investors?
JPMorgan Forecasts 60-90% Growth for the Gold Mining Industry
According to the latest outlook from leading investment bank JPMorgan, the global gold mining sector is facing an exceptional growth opportunity, expected to rise by 60% to 90% in the near future. This forecast comes amid historic highs in gold prices and a strong surge in gold investment demand.
Rising Gold Prices – The Key Driver for Mining Industry Growth
JPMorgan experts note that gold prices have been setting multiple new records in global markets throughout 2024. The main factors are concerns about inflation, geopolitical instability, and continued monetary easing by major central banks. These conditions have driven investors to seek gold as a safe-haven asset.
Advantages for Gold Mining Companies
JPMorgan believes that gold mining companies will be among the biggest beneficiaries of this uptrend. With production costs remaining stable, gold companies are projected to see significant profit increases—some may even raise dividends for shareholders.
Key factors supporting the gold mining sector include:
Strong increases in international gold prices.
Consistent physical gold demand from central banks.
Growing purchases by both retail and institutional investors
Well-controlled production and mining costs.
Investment Opportunities and Potential Risks
JPMorgan recommends that investors prioritize shares in large gold mining companies with low production costs and strong financial foundations to optimize returns during this gold boom.
However, JPMorgan also warns that the gold mining sector still faces several risks, such as:
High volatility in global gold OANDA:XAUUSD prices.
Rising mining costs if energy prices fluctuate.
Legal and political risks in major gold-producing countries.
Conclusion
With a remarkable growth outlook of 60% to 90% as forecasted by JPMorgan, the gold mining industry is becoming a hotspot for global investment inflows. Still, investors should carefully consider potential risks and select the right gold companies to ensure both safety and effectiveness for their investment portfolios.
Gold is expected to rise in the US market
🌐 Driving factors
Geopolitical situation: US President Trump's special envoy Witkov held a three-hour meeting with Russian President Putin in Moscow last Friday to discuss the US plan to end the war in Ukraine. The Kremlin said that the positions of the two sides have become closer.
Iran and the United States said on Saturday that they have agreed to continue nuclear talks in the coming week, but Iranian Foreign Minister Abbas Araqchi was "extremely cautious" about whether the negotiations aimed at resolving the decades-long deadlock can be successful. US President Trump expressed confidence in reaching a new agreement with Iran to prevent the country from developing nuclear bombs.
Latest news: Russian President Putin announced on the 28th that a ceasefire will be implemented from 0:00 on May 8 to 0:00 on May 11.
Bullish sentiment in the market cools down
📊Comment analysis
After the Asian session gold gapped up and opened, it began to fall back quickly to around 3267. After a small rebound in the European session, it continued to retreat. It is currently maintained near 3290. It may continue to fall in the short term, and the support below is maintained near the previous low of 3265-3260 US dollars. This position will also determine the trend of the long and short positions in the later period. It is very likely to retreat again near this position in the evening and continue to make directional choices in the later period. Once the support is effective, the US session may usher in a rebound again, and the key suppression area above is maintained near the integer level of 3300. This position is also the high point of the rebound in the European session, and it will also be the key suppression position of the US session. The operation idea of the US session is very simple. Continue to maintain a certain fluctuation in this range. Once it breaks through, consider stopping loss and exiting.
🔷Technical side:
For the current gold, the 4-hour chart is fluctuating widely between 3330-3270, and is currently near $3295.
✔Operational suggestions, keep short-term trading:
US gold operation strategy:
If you try to go long at 3265-60 first, the target is around 3280-3290, and the loss is 3255. If you first pull back to 3295-00, go short with a light position, and the target is around 3270-3265, and the loss is 3205. In the short term, the long and short positions may continue to pierce, so you need to operate with caution!
💥Risk warning
Liquidity risk: The market may be bearish in early May, and price fluctuations may be amplified.
Policy black swan: Trump may suddenly change tariff policies or personnel changes at the Federal Reserve, causing violent market fluctuations.
Technical false breakthrough: There are a large number of stop-loss orders near $3350, so be wary of reversals after inducing longs.
Summary: This week, the gold market will be affected by geopolitics, the Fed's policies and the trend of the US dollar, and the fluctuation range is expected to be between $3260 and $3350. Investors need to pay close attention to key support and resistance levels and adjust their strategies flexibly.
Gold's second bottoming out shows a range, Layout direction!Gold fell back after reaching a high this week, and the highest reached 3500, which was under pressure. The weekly line finally closed with a Yin cross star. It is expected to be a wide sweep range next week, and the overall range will remain at 3370-3260. After breaking through, it will follow the trend. The daily line has bottomed out and rebounded, and the rebound strength is also strong. Finally, it closed with a long lower shadow Yin line. The repeated sweep of hundreds of points is still the main tone. There is no clear direction signal. The upper pressure is around 3348. If the rebound continues at the opening next week, pay attention to this position. If it breaks through, look at 3370-80. Pay attention to the support below 3288 and 3260. Treat it as a shock in operation, and try to participate in the band near the key position!
Operation suggestion: Gold is long near 3285-95, and look at 3325 and 3248! Shorting is possible if the upper 3248 pressure is not broken!
Analysis of gold price trend next week!Market news:
Spot gold fell nearly 1% on Friday, closing at 3316. Although the price of gold closed above 3300 this week, the trend of London gold prices this week can be described as ups and downs. Intraday transactions have fluctuated by nearly $100 many times. Under the situation of trade tensions, the market has a high risk aversion sentiment, pushing the international gold price above 3500. The easing of global tensions, especially between the United States and China or in Eastern Europe, may significantly reduce the demand for safe havens. Although this is not the base case in 2025, it is still an unexpected risk that traders must consider. In fact, after US President Trump hinted that tariffs on my country may be reduced! The positive risk tone weakened the demand for safe-haven assets. In addition, optimistic US macroeconomic data on Thursday supported the US dollar, which also hit gold prices. Next week, the gold market will welcome the release of the World Gold Council's first quarter "Gold Demand Trends" report. In addition, Trump's 100th day rally on Tuesday may become an important window for gold prices to choose to test the 3,500 mark again or continue to fall from 3,300. In the short term, gold prices may face technical corrections and profit-taking pressures, and the $3,260-3,300 area will be the key battlefield for long and short tug-of-war.
Technical Review:
From the perspective of market sentiment, interest-free gold as a safe-haven asset has performed strongly this year, and its price has soared by nearly $700 and refreshed its historical high several times. However, the recent optimistic expectations of easing global economic and trade relations have boosted market risk appetite, and the equity market has generally performed positively. Some funds have flowed out of safe-haven assets such as gold and turned to risky assets, which is also the main psychological factor under pressure on gold prices. If the market risk appetite continues to improve, global economic and trade relations further ease, and the US dollar strengthens, gold prices may face greater downward pressure and will first test the $3,260 support. If it fails, it may drop to $3,225 or even challenge the $3,200 integer mark. In addition, if the US economic data performs strongly, the market's expectations for the Fed's interest rate cut may further cool, which will also put pressure on gold prices. From the performance of the daily chart, the recent trend of gold prices has shown a high consolidation trend, and there has been a significant correction from the high point near $3,500. After hitting the low point of the week, gold prices rebounded to a certain extent, but the rebound strength was blocked near the 23.6% Fibonacci retracement level (about $3,368-3,370), which has now become an important short-term resistance. The weekly gold line is also a shooting star with a long upper shadow line at a high level. If gold does not have the support of big bullish news in the short term, then gold will still be under pressure at a high level in the short term, and the daily line is also down from a high level without a strong counterattack. Overall, there is still room for adjustment in the short term for gold.
Analysis for next week:
In view of the important trend of gold prices breaking through key points, the subsequent market will most likely continue to sell. From the current market structure, the position of $3260 has become the focus of the market. Investors need to pay close attention to whether the gold price can reach or even fall below this point. Once it effectively falls below, the selling trend will be further strengthened, and the market may usher in a deeper adjustment. The gold 1-hour moving average continues to sell, but after gold bottomed out near the first-line support of 3265, gold rebounded by more than 50 US dollars. Is this rebound a reversal? Not necessarily, because now it basically fluctuates by about 100 US dollars every day, and it is difficult to say that a rebound of 50 US dollars is a reversal. The strength of next week is the key. If the rebound of gold next week is not very strong, then gold will still fluctuate and sell. The resistance of the gold 1-hour moving average is near 3354, and the top of the gold negative line on Friday is near 3352. If there is no effective breakthrough of these two positions next week, it will still fluctuate and sell.
Operation ideas:
Buy short-term gold at 3275-3278, stop loss at 3267, target at 3310-3330;
Sell short-term gold at 3363-3366, stop loss at 3375, target at 3300-3310;
Key points:
First support level: 3300, second support level: 3285, third support level: 3260
First resistance level: 3327, second resistance level: 3343, third resistance level: 3366
Gold Trend Weekly Review Operation strategy layout for next weekWhat news has recently affected the trend of gold and crude oil? How to judge the future market of gold bulls and bears?
Spot gold fell nearly 1% on Friday, closing at 3316.26. Although the price of gold finally closed above 3300 this week, the trend of gold prices this week can be described as ups and downs. The intraday transactions fluctuated by nearly $100 many times. Under the situation of trade tensions, the market was risk-averse, pushing the price of gold above 3500. After Trump's unilateral statement on tariffs eased, coupled with the 3500 mark, investors closed their long positions, and the lowest price of gold fell to around 3260 during the week. At the moment when tariffs were deadlocked, any remarks made by Trump on tariffs did not reduce the risk of the market, but increased the uncertainty of the market and the volatility of gold prices. So far this year, gold has risen by more than 25%. Trump's repeated changes in his criticism of Powell this week are also a major factor driving the sharp fluctuations in gold prices. U.S. President Trump said on Monday that the U.S. economy may slow down unless interest rates are lowered immediately, and criticized Federal Reserve Chairman Powell again. Powell said that interest rates should not be cut until it is clearer that Trump's tariff plan will not lead to a sustained surge in inflation.
The ADP employment report, known as the "small non-farm", will also be released next Wednesday, along with the latest PCE inflation and consumption data. The crucial core PCE price index is expected to rise 0.1% month-on-month in March, and the year-on-year growth rate will slow from the previous value of 2.8% to 2.5%; personal consumption is expected to maintain a month-on-month increase of 0.4%, indicating that US household consumption remains strong. However, the real focus will be the non-farm payrolls report scheduled for release next Friday, and speculation is currently very intense about when the Fed will cut interest rates. Non-farm payrolls growth is expected to slow from 228,000 in March to 130,000 in April, and the unemployment rate remains unchanged at 4.2%. Average wages may increase by 0.3% month-on-month in April. The disappointing non-farm payrolls, coupled with weak core PCE data, may reinforce expectations that the Fed will cut interest rates by 25 basis points in June rather than July, but for May, the market generally expects the Fed to remain on hold. From a macro-trend perspective, gold is still in an upward trend, as real yields may continue to fall against the backdrop of the Fed's accommodative policy. But in the short term, if positive news about tariffs continues to come, gold prices may fall further as the market is re-adjusting expectations. In the long run, structural positive factors still exist, and emerging markets have further room for adjustment in the composition of foreign exchange reserves, and may gradually move closer to the reserve structure of developed countries in the future. Fed officials said they are not in a hurry to adjust monetary policy, and further observation is still needed to determine how the Trump administration's tariff policy affects the US economy.
Analysis of gold market trends next Monday:
Gold technical analysis: From the performance of the daily chart, the recent trend of gold prices has shown a high consolidation trend, with a significant correction from the high point near $3,500. After hitting the low point of the week, the gold price rebounded to a certain extent, but the rebound strength was blocked near the 23.6% Fibonacci retracement level (about 3368-3370 US dollars), which has now become an important short-term resistance. The opening trend of the gold market on Friday was like yesterday. The upward mode started in the Asian session, rising all the way to around 3370 US dollars. However, it encountered strong resistance here and then turned downward and started to fall. It is worth noting that on Friday, the gold price not only failed to break through this key resistance level, but also fell below the low point hit by the European and American sessions yesterday, and rebounded after reaching the lowest point of 3265 US dollars.
From the current market structure, the position of 3260 US dollars has become the focus of the market. Investors need to pay close attention to whether the gold price can reach or even fall below this point. Once it effectively falls below, the short trend will be further strengthened, and the market may usher in a deeper adjustment. From the current situation, there are two Yins enclosing Yangs, so the adjustment will continue at the beginning of next week; of course, this adjustment can be replaced by sideways trading, which means that it is not ruled out that it will run back and forth in the 3260-3370 range. On the whole, the short-term operation strategy for gold next Monday is to focus on long positions on pullbacks and short positions on rebounds. The short-term focus on the upper side is 3368-3370 resistance, and the short-term focus on the lower side is 3265-3260 support. Friends must keep up with the rhythm. It is necessary to control the position and stop loss, set stop loss strictly, and do not resist single operations. The specific points are mainly based on real-time intraday trading. Welcome to experience and exchange real-time market conditions.
Gold ended successfully, Where will the market go next week?The idea of keeping gold short at a high level is that after the winning streak of gold ended, gold continued to fluctuate in a narrow range. If there is no opportunity, then it will end early and rest. After all, it is Friday. After a hard week, it is time to rest. The news on the weekend has changed a lot, and it is full of uncertainty. Gold rebounded again in the second half of the night, which seems to be strong, but has gold reversed? It is too early to say now.
The 1-hour moving average of gold continues to be short, but after gold bottomed out at the first-line support near 3265, gold rebounded by more than 50 US dollars. Is this rebound a reversal? Not necessarily, because now it basically fluctuates by about 100 US dollars every day, and it is hard to say that a rebound of 50 US dollars is a reversal. The strength of next week is the key. If the rebound of gold next week is not very strong, then gold will still fluctuate and be short. The resistance of the 1-hour moving average above gold is near 3354, and the top of the negative line of gold on Friday is near 3352. If there is no effective breakthrough of these two positions next week, it will still be a fluctuating and short trend.
The weekly line of gold is also a shooting star with a long upper shadow at a high level. If there is no big bullish news to support gold in the short term, gold will be under pressure at a high level in the short term, and the daily line is also down from a high level without a strong counterattack. On the whole, there is still room for adjustment in the short term for gold.
The market is changing rapidly and confusing. Sometimes we cannot be confused by the illusion in front of us. Only by not being afraid of the clouds blocking our eyes can we see clearly behind the market. Before gold reverses, it is still bearish in the short term. It is light to follow the trend and messy to go against the trend. The market is always right. Going against the market will eventually be taught a lesson by the market. Don't have any fluke mentality in the face of the trend. The market will not forgive your mistakes again and again.
Next week's operation ideas: short gold 3350-60, target 3310-3300;
Gold fluctuates in a range and corrects sideways! Trend AnalysisAnalysis of gold market trends next Monday:
Technical analysis of gold: From the performance of the daily chart, the recent trend of gold prices has shown a high consolidation trend, and there has been a significant correction from the high point near $3,500. After hitting the low point of the week, the gold price rebounded to a certain extent, but the rebound strength was blocked near the 23.6% Fibonacci retracement level (about $3,368-3,370), which has now become an important short-term resistance. The opening trend of the gold market on Friday was like Thursday, and the Asian session started to pull up and rise all the way to around $3,370. However, it encountered strong resistance here, and then turned downward and started to fall. It is worth noting that today's gold price not only failed to break through this key resistance level, but also fell below the low point hit by yesterday's European and American sessions, and rebounded after reaching a minimum of $3,265.
From the current market structure, the position of $3,260 has become the focus of the market, and investors need to pay close attention to whether the gold price can reach or even fall below this point. Once it effectively breaks, the bearish trend will be further strengthened, and the market may usher in a deeper adjustment. From the current form, there are two Yins enveloping Yangs, so the adjustment will continue at the beginning of next week; of course, this adjustment can be replaced by sideways trading, which means that it is not ruled out that it will run back and forth in the 3260-3380 range. On the whole, the short-term operation strategy for gold next Monday is recommended to be mainly long on pullbacks, supplemented by short on rebounds. The short-term focus on the upper resistance of 3368-3370, and the short-term focus on the lower support of 3265-3260. Friends must keep up with the rhythm. It is necessary to control the position and stop loss, set stop loss strictly, and do not resist single operation. The specific points are mainly based on real-time intraday trading. Welcome to experience and exchange real-time market conditions.
Reference for gold operation strategy next Monday: Strategy 1: Short gold rebounds near 3368-3370, target near 3300-3285, and look at the 3260 line when it breaks.
Strategy 2: Go long on gold when it pulls back to around 3265-3270, target around 3290-3330, and look at the 3370 line if it breaks.
Gold is under pressure and falls again Short again on rebound!Gold rebounded weakly during the European session, and fell twice during the US session, with the lowest price dropping to 3265. However, even though it is extremely weak at present, it is not recommended to blindly chase the short position. The support below is 3260, which is the previous low point and is close to the volatility limit. Instead, you can try short-term long positions with a light position. The short-term pressure above is maintained at 3306, and the breakthrough will gradually reach 3315 and 3328!
Operational suggestions: Gold is short near 3310-20, and look at 3300 and 3280! Long positions can be made if the support below 3260 is not broken!