Analysis of gold news: The latest data released on Thursday (March 13) showed that the US producer price index stagnated due to the decline in service costs, and the number of initial claims in the United States fell slightly, but remained close to the pre-epidemic level. At the same time, driven by the demand for safe-haven assets caused by tariff concerns and the US inflation report that strengthened expectations of future interest rate cuts, gold prices approached historical highs but failed to break through. As of press time, spot gold rose 0.5% to $2,946.68 per ounce. The number of initial jobless claims in the United States fell last week, but the government's sharp spending cuts and escalating trade wars threaten the stability of the labor market. The U.S. Department of Labor announced on Thursday that the number of initial jobless claims fell by 2,000 in the week ending March 8, to 220,000 after seasonal adjustment. Economists surveyed by the agency had previously expected the number of initial jobless claims to be 225,000 last week. In late February, the number of applications for unemployment benefits soared due to seasonal fluctuations around the winter blizzard and the President's Day holiday, which made it difficult to adjust the data. Although the labor market remains solid, the Trump administration's policies pose a downside risk.
Gold technical analysis
Gold's 1-hour moving average is still a golden cross with bullish divergence. After breaking through the box and oscillating, gold continued to rise in the morning today and has basically stabilized at 2930. Gold's retracement to 2930 is an opportunity to buy on dips. Gold can buy on 2933 in the afternoon. If gold does not fall below 2930 again, then gold bulls will have further momentum to rise. Gold bulls are now ready to go and are expected to be even better. In the end, gold bulls have the upper hand in the oscillation, so follow the pace of the bulls. Whether gold can break through the historical high again, we will wait and see! On the whole, He Bosheng suggested that the short-term operation of gold today should focus on long positions on pullbacks and short positions on rebounds. The short-term focus on the upper side is the resistance of 2985-2990, and the short-term focus on the lower side is the support of 2938-2928.
Trading is risky, so control your position reasonably. If you don’t know when to enter the market, please follow the real-time signal announcement of my trading center or leave me a message, so that you can get rid of trading difficulties and realize profits as soon as possible.
XAUUSD GOLD XAUUSD XAUUSD XAUUSD
Gold technical analysis
Gold's 1-hour moving average is still a golden cross with bullish divergence. After breaking through the box and oscillating, gold continued to rise in the morning today and has basically stabilized at 2930. Gold's retracement to 2930 is an opportunity to buy on dips. Gold can buy on 2933 in the afternoon. If gold does not fall below 2930 again, then gold bulls will have further momentum to rise. Gold bulls are now ready to go and are expected to be even better. In the end, gold bulls have the upper hand in the oscillation, so follow the pace of the bulls. Whether gold can break through the historical high again, we will wait and see! On the whole, He Bosheng suggested that the short-term operation of gold today should focus on long positions on pullbacks and short positions on rebounds. The short-term focus on the upper side is the resistance of 2985-2990, and the short-term focus on the lower side is the support of 2938-2928.
Trading is risky, so control your position reasonably. If you don’t know when to enter the market, please follow the real-time signal announcement of my trading center or leave me a message, so that you can get rid of trading difficulties and realize profits as soon as possible.
XAUUSD GOLD XAUUSD XAUUSD XAUUSD 
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This account has been restricted from publishing. Traders who continue to follow my signals and make profits can click 👉 to leave me a message. Telegram: t.me/BeckLedley
Channel: t.me/FcCygjylf
Channel entrance:t.me/FcCygjylf
Channel: t.me/FcCygjylf
Channel entrance:t.me/FcCygjylf
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.