Market news:
The international gold investment market performed well this week, with spot gold starting its upward journey from about $3,050/ounce on Monday. At the beginning of the week, market concerns about global trade uncertainty provided mild support for international gold prices, and spot gold rose to the $3,100/ounce mark on Tuesday. On Wednesday, the US dollar index fell below 102.00, and Trump's tariff remarks exacerbated market anxiety, and the London gold price accelerated upward, breaking through $3,150/ounce. On Thursday, the risk aversion caused by the situation in Russia and Ukraine further pushed up gold prices, and spot gold hit the psychological mark of $3,200/ounce. Gold prices reached a climax this week on Friday, with spot gold hitting a high of $3,245/ounce during the session, as factors such as increased Sino-US trade tensions and a weak dollar disrupted global markets, sparked concerns about a recession, and prompted investors to turn their attention to gold, which is seen as a refuge from uncertainty. Since January, gold prices have risen by about 23% due to geopolitical uncertainties, central banks' demand for increased holdings, and increased inflows into gold-backed exchange-traded funds. In a world upended by Trump's trade war, gold is clearly seen as the most popular safe-haven asset. As confidence in the United States as a reliable trading partner has waned, the dollar has depreciated and U.S. Treasuries are being sold off sharply. Looking ahead to next week, gold prices may fluctuate between $3,200 and $3,300 per ounce. It is necessary to pay close attention to the trend of the U.S. dollar, U.S. economic data and the latest developments in the global situation to determine the next direction of gold prices. The attractiveness of gold as a safe-haven asset is difficult to shake in the short term, and market volatility may continue.
Technical Review:
The three consecutive positive daily lines of gold directly changed the extremely weak adjustment state in the previous period. Now the positive line breaks the upper Bollinger track and pulls up the moving average. Then, gold has entered an extremely strong state of bullish trend. Although bulls dominate in the short term, gold prices are already at historical highs, and the potential risk of a correction cannot be ignored. Both the RSI and CCI indicators are at high levels, close to the overbought area, suggesting that there may be a technical correction in the short term. If there are signs of easing trade tensions or hawkish remarks by Fed officials, gold prices may fall. 4-hour level, this wave of rise is extremely strong, climbing all the way without callback. Now it has crossed last week's high and stood firmly above 3200. The technical indicators are golden cross rising, and there is no sign of stopping. After accelerating, we need to pay attention to the width of the sideways consolidation. On Friday, it directly rose to a historical high of 3245, but there was a slight decline at the close. Next week, we will focus on whether gold will open high and cover. If there is a decline, it is also an opportunity for us to buy in.
Next week's analysis: Given that the current news is good for gold prices, our prudent idea next week is to wait for a callback before going long and bullish, and not guess the top above. Specifically, we can wait until the gold price callbacks to 3200 to go long and look at the two target positions of 3250 and 3298 above. If you want to sell, you can make plans after the high rush is weak. 1-hour moving average of gold is still a golden cross upward bullish arrangement, and the strength of gold bulls is still relatively strong, but now the gold price is too far away from the moving average, and the deviation rate is too large, so pay attention to the next adjustment. Then the adjustment is either space for time or time for space. Either way, you need to wait! If gold uses space to complete the rapid adjustment, then gold should pay attention to the support of 3185 below, and then gold will fluctuate widely to complete the adjustment. If time is exchanged for space, then gold may maintain a narrow range of fluctuations above 3200, and then seek a breakthrough. In this case, gold is still in a strong form, and there will be a rapid rise after the adjustment.
Operation ideas:
Buy short-term gold at 3200-3203, stop loss at 3192, target at 3240-3250;
Sell short-term gold at 3277-3280, stop loss at 3288, target at 3240-3220;
Key points:
First support level: 3220, second support level: 3200, third support level: 3188
First resistance level: 3248, second resistance level: 3262, third resistance level: 3280
The international gold investment market performed well this week, with spot gold starting its upward journey from about $3,050/ounce on Monday. At the beginning of the week, market concerns about global trade uncertainty provided mild support for international gold prices, and spot gold rose to the $3,100/ounce mark on Tuesday. On Wednesday, the US dollar index fell below 102.00, and Trump's tariff remarks exacerbated market anxiety, and the London gold price accelerated upward, breaking through $3,150/ounce. On Thursday, the risk aversion caused by the situation in Russia and Ukraine further pushed up gold prices, and spot gold hit the psychological mark of $3,200/ounce. Gold prices reached a climax this week on Friday, with spot gold hitting a high of $3,245/ounce during the session, as factors such as increased Sino-US trade tensions and a weak dollar disrupted global markets, sparked concerns about a recession, and prompted investors to turn their attention to gold, which is seen as a refuge from uncertainty. Since January, gold prices have risen by about 23% due to geopolitical uncertainties, central banks' demand for increased holdings, and increased inflows into gold-backed exchange-traded funds. In a world upended by Trump's trade war, gold is clearly seen as the most popular safe-haven asset. As confidence in the United States as a reliable trading partner has waned, the dollar has depreciated and U.S. Treasuries are being sold off sharply. Looking ahead to next week, gold prices may fluctuate between $3,200 and $3,300 per ounce. It is necessary to pay close attention to the trend of the U.S. dollar, U.S. economic data and the latest developments in the global situation to determine the next direction of gold prices. The attractiveness of gold as a safe-haven asset is difficult to shake in the short term, and market volatility may continue.
Technical Review:
The three consecutive positive daily lines of gold directly changed the extremely weak adjustment state in the previous period. Now the positive line breaks the upper Bollinger track and pulls up the moving average. Then, gold has entered an extremely strong state of bullish trend. Although bulls dominate in the short term, gold prices are already at historical highs, and the potential risk of a correction cannot be ignored. Both the RSI and CCI indicators are at high levels, close to the overbought area, suggesting that there may be a technical correction in the short term. If there are signs of easing trade tensions or hawkish remarks by Fed officials, gold prices may fall. 4-hour level, this wave of rise is extremely strong, climbing all the way without callback. Now it has crossed last week's high and stood firmly above 3200. The technical indicators are golden cross rising, and there is no sign of stopping. After accelerating, we need to pay attention to the width of the sideways consolidation. On Friday, it directly rose to a historical high of 3245, but there was a slight decline at the close. Next week, we will focus on whether gold will open high and cover. If there is a decline, it is also an opportunity for us to buy in.
Next week's analysis: Given that the current news is good for gold prices, our prudent idea next week is to wait for a callback before going long and bullish, and not guess the top above. Specifically, we can wait until the gold price callbacks to 3200 to go long and look at the two target positions of 3250 and 3298 above. If you want to sell, you can make plans after the high rush is weak. 1-hour moving average of gold is still a golden cross upward bullish arrangement, and the strength of gold bulls is still relatively strong, but now the gold price is too far away from the moving average, and the deviation rate is too large, so pay attention to the next adjustment. Then the adjustment is either space for time or time for space. Either way, you need to wait! If gold uses space to complete the rapid adjustment, then gold should pay attention to the support of 3185 below, and then gold will fluctuate widely to complete the adjustment. If time is exchanged for space, then gold may maintain a narrow range of fluctuations above 3200, and then seek a breakthrough. In this case, gold is still in a strong form, and there will be a rapid rise after the adjustment.
Operation ideas:
Buy short-term gold at 3200-3203, stop loss at 3192, target at 3240-3250;
Sell short-term gold at 3277-3280, stop loss at 3288, target at 3240-3220;
Key points:
First support level: 3220, second support level: 3200, third support level: 3188
First resistance level: 3248, second resistance level: 3262, third resistance level: 3280
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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.
We share free trading signals of various products (XAUUSD, foreign exchange, oil, BTC) every day, with high accuracy and lucrative profits.
t.me/+aLnifhBYkww1ODlh
t.me/+aLnifhBYkww1ODlh
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.