The US-China tariff negotiations have made positive progress, and the global capital market has become active. However, the safe-haven asset gold has been sold off sharply, with a single-day drop of more than $100 again. In the past two or three months, single-day fluctuations of hundreds of dollars have become the norm. The current price maintains a volatile pattern in the 3231-3248 range. At present, 3250 has become a key resistance level. If it can effectively break through and stand firm, the gold price is expected to further test the 3270-3288 area. However, from the perspective of short-term momentum, it is still under pressure to pull back in the late trading period. Technically, the upper resistance is concentrated in the 3248-3252 range, and the lower support is around 3215-3200. It is recommended to focus on long positions on pullbacks and supplement them with high positions on rebounds.
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t.me/+_j0rbFDBRyY5Njg0
100% accurate trading signals
100% accurate trading signals
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.