Gold's performance was not very positive yesterday. After rising for three consecutive days, it finally closed with a negative line, and the price was below 3,300 points.
On the one hand, the three major U.S. stock indexes retreated and the U.S. dollar rebounded. On the other hand, due to the rise in 10-year and 30-year U.S. Treasury yields, some funds were transferred.
In the medium and long term, we can continue to be bullish on gold.
The rise in U.S. Treasury yields will reflect the market's concerns about future economic growth, inflationary pressure, fiscal conditions, etc. If this situation cannot be changed in other ways in the future, the market crisis will re-enact, and then the U.S. stock market and the U.S. dollar will still fall, which will support the rise of gold.
In the short term, yesterday's gold price failed to continue to rise, and the technical pattern has changed. In addition, today is Friday, we must be cautious in trading.
I personally think that today is likely to be a volatile trend, and it is inevitable to pull up and down. This will make trading as usual difficult. If you are more cautious, you can give up today and trade next week.
On the one hand, the three major U.S. stock indexes retreated and the U.S. dollar rebounded. On the other hand, due to the rise in 10-year and 30-year U.S. Treasury yields, some funds were transferred.
In the medium and long term, we can continue to be bullish on gold.
The rise in U.S. Treasury yields will reflect the market's concerns about future economic growth, inflationary pressure, fiscal conditions, etc. If this situation cannot be changed in other ways in the future, the market crisis will re-enact, and then the U.S. stock market and the U.S. dollar will still fall, which will support the rise of gold.
In the short term, yesterday's gold price failed to continue to rise, and the technical pattern has changed. In addition, today is Friday, we must be cautious in trading.
I personally think that today is likely to be a volatile trend, and it is inevitable to pull up and down. This will make trading as usual difficult. If you are more cautious, you can give up today and trade next week.
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👊Join the free Telegram group:
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🏆Contact me to copy trading:
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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.
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
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.