Short

Gold will usher in a downward trend, continue to short!

Yesterday (March 11), regarding peace, the United States and Russia will usher in a new round of negotiations:

① Ukraine is willing to accept a 30-day temporary ceasefire, which can be extended but must be agreed and implemented by Russia. Resume intelligence sharing with Ukraine and reach a US-Ukraine mineral agreement as soon as possible;

② Trump: I believe that I will have a dialogue with Putin this week, and I hope that Russia will accept the ceasefire and invite Ze to return to the White House;

③ Ze: The ceasefire is a positive proposal, and Russia must express its willingness;

④ It is reported that Putin will talk to Trump on Friday, and it will not be just one call.

Also affected by the data, the market panic reached a high point yesterday. For gold, ignore everything and get out of the narrow range of fluctuations. In the entire market, the US dollar has fallen sharply for many consecutive days and has entered the support range of 103.4. The sentiment of profit-taking is no longer suppressed. The rebound of the US dollar and US bond yields also suppresses the rebound of gold.

Based on the above analysis, if the CPI data implies that the Fed is unwilling to restart rate cuts early, then after maintaining a relatively high level, there will be an instantaneous bearish sentiment for gold. Then according to the seven-day fluctuation range of 2895-2930, gold will test 2895 again, or even the recent low of 2880. Now is still a good time to short.

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Gold_Labaron

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If it approaches 2920-2930, we still choose to continue shorting

by Gold_Labaron

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