Today's key gold price range: 3400-3450
Today's gold price opened high and rose, eventually reaching around 3450, but it did not stay at the high level for too long and then fell back.
Based on the current fluctuations, we draw the following conclusions:
1: The market reaction is not as intense as imagined.
2: However, the reliability of the channel pressure at the macro level is more certain:
Super pressure: 3450
3: Next, the reliability of the support around 3400-3410 will be confirmed again
4: The gold price fluctuation range is maintained at: 3400-3450 range fluctuation
At present, as the gold price successfully stands above the 3400 mark, the market focus has shifted to whether the gold price will fall back and adjust.
From the intraday trend, gold opened high in the morning, briefly broke through last week's high, and then fell back quickly.
In the short term, the 3415-3410 area has become the most important support.
This area is not only the low point before the opening of the US stock market last Friday, but also the key line of defense for the long and short battles in the short term.
Before this area is effectively broken, the possibility of gold price rebound can be given priority;
1: Once the price falls below 3410, the 3400-3405 area should be focused on. This range is the key point for bullish breakthrough. If it can be held, the bullish idea can still be maintained;
2: If it unfortunately falls below, it means that the short-selling force is strengthened and the market may turn to the short side. In the future, we can further pay attention to the 3385-3375 and 3365-3355 areas. It is expected that these two points will become new support levels to accumulate strength for subsequent rises.
3: In terms of resistance, the upper 3450-3455 area constitutes strong resistance during the day. If there is no new positive news stimulation, it will be difficult for gold prices to break through this area in the short term.
4: In the long run, if the geopolitical situation between Israel and Iran further deteriorates and gets out of control, the market risk aversion will continue to rise, and gold bulls are expected to make another effort to break through the current high and gradually look to the 3470-3475 area, and then challenge the 3492 line and launch an impact on the new high of 3500.
The current Asian session shows a trend of opening high and closing low. Whether this trend is a prelude to a negative decline or a shock correction to accumulate momentum for subsequent rise, the trend during the European session will become the key basis for judgment.
Fundamentals:
On June 16, as June 2025 deepens, the global financial market is ushering in a critical week.
The Federal Reserve will announce its latest monetary policy decision on Wednesday (June 18), which will not only affect the future direction of the US economy, but also have a profound impact on global asset prices, the trend of the US dollar and investor sentiment.
Last Friday, Israel's military strike on Iran and the retaliatory missile attacks it triggered put pressure on global markets.
This incident has added new variables to the market, which is already full of uncertainty.
This week, the Federal Reserve's policy meeting, retail sales data and geopolitical situation will become the three core factors affecting the global market.
The Federal Reserve may keep interest rates unchanged, but its economic forecasts and future interest rate cuts will directly affect the market's judgment on the trend of the US dollar.
If the Fed sends a dovish signal, the dollar may be under pressure in the short term, but geopolitical risks and safe-haven demand may provide support for it.
On the contrary, if the Fed emphasizes inflation risks, the dollar may strengthen, but this may put pressure on US stocks and global risk assets.
Today's gold price opened high and rose, eventually reaching around 3450, but it did not stay at the high level for too long and then fell back.
Based on the current fluctuations, we draw the following conclusions:
1: The market reaction is not as intense as imagined.
2: However, the reliability of the channel pressure at the macro level is more certain:
Super pressure: 3450
3: Next, the reliability of the support around 3400-3410 will be confirmed again
4: The gold price fluctuation range is maintained at: 3400-3450 range fluctuation
At present, as the gold price successfully stands above the 3400 mark, the market focus has shifted to whether the gold price will fall back and adjust.
From the intraday trend, gold opened high in the morning, briefly broke through last week's high, and then fell back quickly.
In the short term, the 3415-3410 area has become the most important support.
This area is not only the low point before the opening of the US stock market last Friday, but also the key line of defense for the long and short battles in the short term.
Before this area is effectively broken, the possibility of gold price rebound can be given priority;
1: Once the price falls below 3410, the 3400-3405 area should be focused on. This range is the key point for bullish breakthrough. If it can be held, the bullish idea can still be maintained;
2: If it unfortunately falls below, it means that the short-selling force is strengthened and the market may turn to the short side. In the future, we can further pay attention to the 3385-3375 and 3365-3355 areas. It is expected that these two points will become new support levels to accumulate strength for subsequent rises.
3: In terms of resistance, the upper 3450-3455 area constitutes strong resistance during the day. If there is no new positive news stimulation, it will be difficult for gold prices to break through this area in the short term.
4: In the long run, if the geopolitical situation between Israel and Iran further deteriorates and gets out of control, the market risk aversion will continue to rise, and gold bulls are expected to make another effort to break through the current high and gradually look to the 3470-3475 area, and then challenge the 3492 line and launch an impact on the new high of 3500.
The current Asian session shows a trend of opening high and closing low. Whether this trend is a prelude to a negative decline or a shock correction to accumulate momentum for subsequent rise, the trend during the European session will become the key basis for judgment.
Fundamentals:
On June 16, as June 2025 deepens, the global financial market is ushering in a critical week.
The Federal Reserve will announce its latest monetary policy decision on Wednesday (June 18), which will not only affect the future direction of the US economy, but also have a profound impact on global asset prices, the trend of the US dollar and investor sentiment.
Last Friday, Israel's military strike on Iran and the retaliatory missile attacks it triggered put pressure on global markets.
This incident has added new variables to the market, which is already full of uncertainty.
This week, the Federal Reserve's policy meeting, retail sales data and geopolitical situation will become the three core factors affecting the global market.
The Federal Reserve may keep interest rates unchanged, but its economic forecasts and future interest rate cuts will directly affect the market's judgment on the trend of the US dollar.
If the Fed sends a dovish signal, the dollar may be under pressure in the short term, but geopolitical risks and safe-haven demand may provide support for it.
On the contrary, if the Fed emphasizes inflation risks, the dollar may strengthen, but this may put pressure on US stocks and global risk assets.
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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.
💸Free signal：t.me/+mXGe9RqxR2QwNjdk
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.