Gold Spot / U.S. DollarUpdated Important pressure on gold prices today: 2780-2790
Important pressure on gold prices today: 2780-2790
Market concerns about Trump's tariff policy stimulated safe-haven buying of gold, supporting the rise in gold prices and hitting a two-month high.
From the daily chart, gold continued to rise this week and performed very strongly.
For the support below gold, pay attention to the low of $2745 after the upward breakthrough of gold prices on Wednesday, which is also near the high point of gold's rise on Tuesday. Gold prices stabilized here and continued to hit new highs;
Currently, the upper pressure level of gold is $2780-2790 today.
Fundamentals:
1: Investors' concerns about Trump's policies are still the main factor supporting the rise in gold.
2: This week's US data is light. The US economic data released last week, including CPI data, initial jobless claims data and retail data, strengthened investors' expectations for the Fed's interest rate cut this year, dragging the US 10-year Treasury yield to a three-week low, supporting gold prices.
3: In addition, before Trump took office, investors' concerns about the uncertainty of his policies boosted the safe-haven demand for gold; after Trump took office, concerns about his tariff remarks that may trigger a trade war (threatening tariffs against the European Union, China, Russia, etc.) further boosted the safe-haven demand for gold, helping the gold price to break through the recent interim high.
Technical analysis:
From a technical point of view, after a continuous and unrestrained rise, the upside space of gold has gradually opened up.
And the momentum of another rise this morning has been significantly strengthened.
There is a high probability that there will be a correction near 2780-2790.
This is very beneficial for the short-term trend. At present, as long as there is no positive fundamental pull, the short-term bulls will inevitably not stand the test of time, and will eventually need a short-term decline adjustment
The focus of the day is on the pressure competition near 2780-2790, and the focus of the bottom is on the competition for the short support of 2740.
Then as long as gold no longer shows strong abnormal pull-ups, it will only be a matter of time before it adjusts.
Intraday operation suggestions: Wait and see, wait for the sentiment trend to become clear before entering the market and choosing a new direction.
Of course:
I will still publish the specific intraday trading strategy like the previous two weeks, and find a suitable time to publish it under the article
If you also like my analysis, you can leave me a message and I will reply one by one
Market concerns about Trump's tariff policy stimulated safe-haven buying of gold, supporting the rise in gold prices and hitting a two-month high.
From the daily chart, gold continued to rise this week and performed very strongly.
For the support below gold, pay attention to the low of $2745 after the upward breakthrough of gold prices on Wednesday, which is also near the high point of gold's rise on Tuesday. Gold prices stabilized here and continued to hit new highs;
Currently, the upper pressure level of gold is $2780-2790 today.
Fundamentals:
1: Investors' concerns about Trump's policies are still the main factor supporting the rise in gold.
2: This week's US data is light. The US economic data released last week, including CPI data, initial jobless claims data and retail data, strengthened investors' expectations for the Fed's interest rate cut this year, dragging the US 10-year Treasury yield to a three-week low, supporting gold prices.
3: In addition, before Trump took office, investors' concerns about the uncertainty of his policies boosted the safe-haven demand for gold; after Trump took office, concerns about his tariff remarks that may trigger a trade war (threatening tariffs against the European Union, China, Russia, etc.) further boosted the safe-haven demand for gold, helping the gold price to break through the recent interim high.
Technical analysis:
From a technical point of view, after a continuous and unrestrained rise, the upside space of gold has gradually opened up.
And the momentum of another rise this morning has been significantly strengthened.
There is a high probability that there will be a correction near 2780-2790.
This is very beneficial for the short-term trend. At present, as long as there is no positive fundamental pull, the short-term bulls will inevitably not stand the test of time, and will eventually need a short-term decline adjustment
The focus of the day is on the pressure competition near 2780-2790, and the focus of the bottom is on the competition for the short support of 2740.
Then as long as gold no longer shows strong abnormal pull-ups, it will only be a matter of time before it adjusts.
Intraday operation suggestions: Wait and see, wait for the sentiment trend to become clear before entering the market and choosing a new direction.
Of course:
I will still publish the specific intraday trading strategy like the previous two weeks, and find a suitable time to publish it under the article
If you also like my analysis, you can leave me a message and I will reply one by one
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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.