Recently, global trade tensions have continued to heat up, the risk aversion sentiment in the gold market has increased significantly, and the gold price trend has been unusually strong. In just three trading days, the gold price has continuously broken through multiple integer barriers, once reaching a record high of $3,244. More significantly, the weekly chart has formed a large positive line that has accelerated its rise, and the weekly increase has almost swallowed up the shock range of the previous three weeks, reflecting the strong upward momentum of the current market.
Factors behind the global economic environment and the rise in gold prices
There are multiple factors behind the outbreak of this round of gold market. First, the shaking of the hegemony of the US dollar and the weakness of the US dollar have provided support for gold; secondly, the intensification of geopolitical risks, especially concerns about trade wars and regional conflicts, has led to an increase in market demand for safe-haven assets. Thirdly, the safe-haven demand in global capital flows is also an important factor in pushing up gold prices.
Technical analysis
From a technical point of view, the gold price has broken through multiple key resistance levels, opening up room for growth. At present, the gold price has gained support near the $3,190-3,185 range and is expected to continue to rise in the short term. The upper resistance level is currently in the range of US$3245-3250. If it breaks through this area, the gold price is expected to move closer to US$3270. The lower support level is in the range of US$3190-3185. If the price pulls back to this level, you can consider going long.
Operation strategy
Pullback long strategy:
It is recommended to enter a long position when the gold price pulls back to the range of US$3190-3185, set the stop loss at around US$3177, and set the target price at the range of US$3220-3245. If the gold price breaks through US$3245, the target can be raised to US$3270.
Rebound short strategy:
If the gold price rebounds to the range of US$3244-3250, you can consider going short, set the stop loss at US$3257, and the target price can be seen in the range of US$3220-3205.
Risk Warning
Although the price of gold is currently showing a strong upward trend, investors still need to pay attention to changes in the global trade situation, especially the dynamic adjustment of tariff policies. If the trade dispute eases or other uncertainties change, the price of gold may face short-term adjustments, so it is necessary to pay close attention to changes in market news and technical signals and operate with caution.
Summary
The current upward momentum of the gold market is strong, and there is still a certain upward potential in the next few weeks. However, as the market pays attention to the stagnation of tariff policies, investors should maintain a flexible operating strategy, arrange long orders during callbacks, and short at the right time during rebounds to reasonably control risks.
Factors behind the global economic environment and the rise in gold prices
There are multiple factors behind the outbreak of this round of gold market. First, the shaking of the hegemony of the US dollar and the weakness of the US dollar have provided support for gold; secondly, the intensification of geopolitical risks, especially concerns about trade wars and regional conflicts, has led to an increase in market demand for safe-haven assets. Thirdly, the safe-haven demand in global capital flows is also an important factor in pushing up gold prices.
Technical analysis
From a technical point of view, the gold price has broken through multiple key resistance levels, opening up room for growth. At present, the gold price has gained support near the $3,190-3,185 range and is expected to continue to rise in the short term. The upper resistance level is currently in the range of US$3245-3250. If it breaks through this area, the gold price is expected to move closer to US$3270. The lower support level is in the range of US$3190-3185. If the price pulls back to this level, you can consider going long.
Operation strategy
Pullback long strategy:
It is recommended to enter a long position when the gold price pulls back to the range of US$3190-3185, set the stop loss at around US$3177, and set the target price at the range of US$3220-3245. If the gold price breaks through US$3245, the target can be raised to US$3270.
Rebound short strategy:
If the gold price rebounds to the range of US$3244-3250, you can consider going short, set the stop loss at US$3257, and the target price can be seen in the range of US$3220-3205.
Risk Warning
Although the price of gold is currently showing a strong upward trend, investors still need to pay attention to changes in the global trade situation, especially the dynamic adjustment of tariff policies. If the trade dispute eases or other uncertainties change, the price of gold may face short-term adjustments, so it is necessary to pay close attention to changes in market news and technical signals and operate with caution.
Summary
The current upward momentum of the gold market is strong, and there is still a certain upward potential in the next few weeks. However, as the market pays attention to the stagnation of tariff policies, investors should maintain a flexible operating strategy, arrange long orders during callbacks, and short at the right time during rebounds to reasonably control risks.
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.
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.