Last Friday, Trump threatened to escalate the trade war again and suggested that a 50% tariff be imposed on the EU from June. As a result, safe-haven demand increased and gold rose to $3,365.
After a call with European Commission President von der Leyen, Trump said that the tariffs would be postponed until July 9. As a result, gold began to fall in the early trading, reaching a low of 3,323.
It can be seen that the tariff issue is still affecting the market. Since the tariff war, only the UK and the US have reached a trade agreement, and the rest have not been fully reached. A series of problems that may be caused in the future will increase safe-haven demand.
Therefore, as long as the callback is in place, I think it is an opportunity to buy again. At present, the support below can focus on the 3,320-3,330 area, followed by 3,300-3,310. The lower the retracement, the better. Only after the retracement can the short-term profit be maximized.
Today is a holiday in the United States. The US stock market is not open, and the volatility will not be too large. It is likely to be a volatile market, so today's trading should be closed when it is good.
After a call with European Commission President von der Leyen, Trump said that the tariffs would be postponed until July 9. As a result, gold began to fall in the early trading, reaching a low of 3,323.
It can be seen that the tariff issue is still affecting the market. Since the tariff war, only the UK and the US have reached a trade agreement, and the rest have not been fully reached. A series of problems that may be caused in the future will increase safe-haven demand.
Therefore, as long as the callback is in place, I think it is an opportunity to buy again. At present, the support below can focus on the 3,320-3,330 area, followed by 3,300-3,310. The lower the retracement, the better. Only after the retracement can the short-term profit be maximized.
Today is a holiday in the United States. The US stock market is not open, and the volatility will not be too large. It is likely to be a volatile market, so today's trading should be closed when it is good.
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If you don’t know where to start trading, you can join the channel and get accurate trading signals
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
Related publications
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.