https://www.tradingview.com/x/JchIWjAk/
💡Message Strategy
The current gold price is primarily supported by the following fundamental factors:
First, US President Trump signed an executive order imposing an additional 25% tariff on Indian imports, bringing the cumulative tariff rate to 50%. Meanwhile, the market expects Japanese goods to face an additional 15% tariff. This series of policies has fueled concerns about global economic uncertainty, significantly increasing market demand for safe-haven assets and benefiting gold.
Second, recent weak US economic data, including last Friday's weaker-than-expected non-farm payroll data and Tuesday's subdued ISM services PMI, have reinforced expectations of a Federal Reserve rate cut this year.
Furthermore, the US dollar has remained under pressure, weakening against major currencies to a more than one-week low. Since gold is priced in US dollars, a weaker dollar has increased purchasing power in non-US markets, indirectly pushing up gold prices.
Despite the overall optimistic tone in the equity market, the upward trend in risky assets has not dampened gold's momentum, indicating that market sentiment has not yet returned to a risk-on, and gold continues to serve as a core safe-haven asset.
📊Technical aspects
Looking at the two-hour chart, gold prices have been trading in a volatile consolidation pattern since rebounding from a low of $2,955. They are currently trading above the middle Bollinger Band ($3,340) and approaching the upper Bollinger Band ($3,430).
The Bollinger Bands are showing signs of convergence, indicating a temporary contraction in volatility, which could be a precursor to a potential breakout. A subsequent breakout above the upper Bollinger Band on larger volume would signal a "Bollinger Band squeeze + breakout" pattern, potentially testing the previous high of $3,430.
If gold breaks through the 3440 line with strength, then gold will continue to challenge the 3500 integer mark.
💰Strategy Package
Long Position:3365-3375，SL:3350，Target: 3400-3430
💡Message Strategy
The current gold price is primarily supported by the following fundamental factors:
First, US President Trump signed an executive order imposing an additional 25% tariff on Indian imports, bringing the cumulative tariff rate to 50%. Meanwhile, the market expects Japanese goods to face an additional 15% tariff. This series of policies has fueled concerns about global economic uncertainty, significantly increasing market demand for safe-haven assets and benefiting gold.
Second, recent weak US economic data, including last Friday's weaker-than-expected non-farm payroll data and Tuesday's subdued ISM services PMI, have reinforced expectations of a Federal Reserve rate cut this year.
Furthermore, the US dollar has remained under pressure, weakening against major currencies to a more than one-week low. Since gold is priced in US dollars, a weaker dollar has increased purchasing power in non-US markets, indirectly pushing up gold prices.
Despite the overall optimistic tone in the equity market, the upward trend in risky assets has not dampened gold's momentum, indicating that market sentiment has not yet returned to a risk-on, and gold continues to serve as a core safe-haven asset.
📊Technical aspects
Looking at the two-hour chart, gold prices have been trading in a volatile consolidation pattern since rebounding from a low of $2,955. They are currently trading above the middle Bollinger Band ($3,340) and approaching the upper Bollinger Band ($3,430).
The Bollinger Bands are showing signs of convergence, indicating a temporary contraction in volatility, which could be a precursor to a potential breakout. A subsequent breakout above the upper Bollinger Band on larger volume would signal a "Bollinger Band squeeze + breakout" pattern, potentially testing the previous high of $3,430.
If gold breaks through the 3440 line with strength, then gold will continue to challenge the 3500 integer mark.
💰Strategy Package
Long Position:3365-3375，SL:3350，Target: 3400-3430
Trade active
Central banks in sub-Saharan Africa are accelerating their gold purchases as a hedge against growing macroeconomic instability in the United States and rising global geopolitical risks.
Through scientific and rigorous financial analysis and personalized strategy formulation, we help you achieve stable growth of wealth. At the same time, in a complex and changing economic environment, we help you avoid potential risks and protect the saf
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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.
Through scientific and rigorous financial analysis and personalized strategy formulation, we help you achieve stable growth of wealth. At the same time, in a complex and changing economic environment, we help you avoid potential risks and protect the saf
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.