Analysis of gold news: Spot gold hit a high and then fell back during the U.S. market on Tuesday (September 10), and is currently trading around $2504.22 per ounce. Gold prices rebounded slightly on Monday, rising above the 2500 mark and closing at $2506.04 per ounce. The rebound in U.S. Treasury yields was blocked and hovered around 15 lows, providing gold with a rebound opportunity, but the rebound in the U.S. dollar index limited the rise in gold prices. Investors are waiting for the U.S. inflation report to provide further clues to the scale of the Fed's possible rate cuts. Gold prices "are likely to be quite stable, perhaps fluctuating slightly within the existing range," said Peter A. Grant, vice president and senior metals strategist at Zaner Metals. He expects gold to hit a record high. According to the CME FedWatch tool, traders currently believe that the Fed has a 73% chance of a 25 basis point rate cut at next week's meeting and a 27% chance of a 50 basis point cut. Investors are now focusing on U.S. consumer price data for August to be released on Wednesday and the producer price index on Thursday. A report released by the New York Federal Reserve on Monday showed that the American public's expectations of inflation pressures in August changed little as current price pressures continued to decline.
The recent trend of gold is quite subtle. From mid-August to now, for almost a month, the price has been running in the large range of 2470-2530. It fell when it touched the top and rebounded when it touched the bottom. The range has never been broken. Last Friday's non-agricultural data only rebounded slightly and fell to around 2530. This shows that there is a lot of short pressure from above. The next day, it rebounded with the support of 2485, and the US market broke through the 2500 mark again. The shock is still continuing.
Judging from the current market, the daily chart bottomed out and rebounded to close with a positive sign. The support below is effective, and at the same time, the downward trend on Friday was not continued, so it is still volatile as mentioned in the early review. After the four-hour lower line support, it broke through the short-term moving average and the middle track. It is expected that it will continue to fluctuate downward with a high probability, and the 4-hour chart will hit the long and short balance of 2507. One is the median, and the other is the upper line of the hourly chart. It is expected that there will be a correction in the short term. The focus of this week is the CPI data on Wednesday, which is an important factor that may break the deadlock in the range. Therefore, the CPI data at the beginning of this week currently maintains the idea of range fluctuations.
The recent trend of gold is quite subtle. From mid-August to now, for almost a month, the price has been running in the large range of 2470-2530. It fell when it touched the top and rebounded when it touched the bottom. The range has never been broken. Last Friday's non-agricultural data only rebounded slightly and fell to around 2530. This shows that there is a lot of short pressure from above. The next day, it rebounded with the support of 2485, and the US market broke through the 2500 mark again. The shock is still continuing.
Judging from the current market, the daily chart bottomed out and rebounded to close with a positive sign. The support below is effective, and at the same time, the downward trend on Friday was not continued, so it is still volatile as mentioned in the early review. After the four-hour lower line support, it broke through the short-term moving average and the middle track. It is expected that it will continue to fluctuate downward with a high probability, and the 4-hour chart will hit the long and short balance of 2507. One is the median, and the other is the upper line of the hourly chart. It is expected that there will be a correction in the short term. The focus of this week is the CPI data on Wednesday, which is an important factor that may break the deadlock in the range. Therefore, the CPI data at the beginning of this week currently maintains the idea of range fluctuations.
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There is no volatility in the market for the time being. Take a break. I will continue to share trading strategies on my channel. I think it will be helpful to you.Trade active
There is no volatility in the market for the time being. Take a break. I will continue to share trading strategies on my channel. I think it will be helpful to you.Trade active
Today, gold is still focusing on the pressure of the previous high of $2531. If it does not break, you can short and look for a retracement. The primary target is $2510. After breaking through, look at $2500-2493. If it breaks up unexpectedly in the evening, the bulls can extend to around $2540 and you can go short again. The retracement target remains unchanged.Trade active
The US will announce the annual CPI rate in 40 minutes. Click on my website to get the trading strategy.Trade active
The news analysis is accurate, shorting gold makes another profit of +110 points, click on my website so that you can enjoy profits every dayTrade active
Today, both long and short sides make profit, and the profit exceeds 200 points. Click on my website, and your profit in a week will exceed 100%.Trade active
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I have helped many members make huge profits in the market. You can click on my website to check it out. If you also want to make stable profits, you can contact me and I will help you.Trade active
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Gold is still rising strongly, don't short it for now, look for better trading opportunitiesTrade active
Gold bulls are rising higher and higher, without any pullback. It's Friday now, so there's no need to chase the rise. Slow rises are often followed by sharp declines, so don't chase the longs easily. Gold is a bit stagnant, short at 2579.Trade active
So far, the profit for this week has reached 120%, and it is expected to reach 150% by the end of today. If you also want to make huge profits every week, click on my website, it will be helpful to you.Trade active
Gold is still testing new highs, so in the short term, it is still mainly about falling back and doing long. Pay attention to the support in the 2575 area and the resistance in the 2590-2600 area.Trade active
Gold is still testing new highs, so in the short term, it is still mainly about falling back and doing long. Pay attention to the support in the 2575 area and the resistance in the 2590-2600 area.
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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.