US President Trump recently criticized Fed Chairman Powell again, calling him "slow to act" and emphasizing that the Fed should cut interest rates as soon as possible to support the economy. Trump believes that delaying interest rate cuts may lead to the risk of recession in the US economy, but the Fed still takes inflation and employment data as the core of decision-making, and the two sides have obvious differences in policy positions.
At present, the Fed's interest rate cut expectations have been postponed and the magnitude has been reduced. Coupled with the expectation of rising US bond yields, the gold market sentiment has weakened. The world's largest gold ETF recently reduced its holdings by 8.98 tons to 918.73 tons, reflecting the cooling of institutions' short-term bullish enthusiasm for gold. Technically, gold prices continued to weaken after breaking through key support last week, and the weekly closing was negative, suggesting that shorts were dominant; the daily level was constrained by the 20-day moving average, and the volatile downward trend may continue in the short term. Focus on the 3250-3265 line resistance during the day. If it cannot break through, the $3,200 mark below may face a test.
Gold recommendation: short sell when it rebounds to 3245-3252 range. Target 3230-3220.
At present, the Fed's interest rate cut expectations have been postponed and the magnitude has been reduced. Coupled with the expectation of rising US bond yields, the gold market sentiment has weakened. The world's largest gold ETF recently reduced its holdings by 8.98 tons to 918.73 tons, reflecting the cooling of institutions' short-term bullish enthusiasm for gold. Technically, gold prices continued to weaken after breaking through key support last week, and the weekly closing was negative, suggesting that shorts were dominant; the daily level was constrained by the 20-day moving average, and the volatile downward trend may continue in the short term. Focus on the 3250-3265 line resistance during the day. If it cannot break through, the $3,200 mark below may face a test.
Gold recommendation: short sell when it rebounds to 3245-3252 range. Target 3230-3220.
Trade active
ou don’t know when to enter the market and want to double your profits? As long as you persist, your weekly profits can reach more than 100-400% without complicated operations.Trade closed: target reached
Congratulations to those who followed the trading strategy and reaped high returns. Stick to the trading plan and don't be disturbed by short-term fluctuations. Secondly, you need to have a precise control of the market and stick to your own trading logic. Although the decline was not as fast as expected, our plan is like a safety belt, which can steadily control the profit. It is worth celebrating for those who follow the operation. If you are already in it and it is not ideal, you can come to me and I will help you and will not let you make the same mistake again. Others have already reaped good returns, but you are still hesitating whether to cross the traffic light at the intersection? Remember, hesitation will lead to failure! Follow my pace and you will reap high returns.
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.
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.