Gold seems to be preparing for a correction from its record high
Updated
The US dollar (USD) maintains an adjustment regime, reflecting a decline in US Treasury yields. Chinese stocks have rebounded after the People's Bank of China (PBOC) lowered the one-year loan prime rate (LPR) from 3.35% to 3.10%.
Although the market's initial reaction was not strong, there are still expectations for further stimulus measures from China. This optimism, combined with ongoing tensions between Israel and Iran, has supported gold prices.
Personal opinion:
The US dollar's adjustment regime reflects economic volatility. The PBOC's interest rate cut aims to boost China's growth, but the market's weak reaction shows caution due to geopolitical tensions, like those between Israel and Iran. This situation compels investors to tread carefully, especially with gold prices supported by these uncertainties.
Pay attention to the price range:
Although the market's initial reaction was not strong, there are still expectations for further stimulus measures from China. This optimism, combined with ongoing tensions between Israel and Iran, has supported gold prices.
Personal opinion:
The US dollar's adjustment regime reflects economic volatility. The PBOC's interest rate cut aims to boost China's growth, but the market's weak reaction shows caution due to geopolitical tensions, like those between Israel and Iran. This situation compels investors to tread carefully, especially with gold prices supported by these uncertainties.
Pay attention to the price range:
Buy Zone: 2704 - 2702
SL: 2697
Buy Scalp: 2719 - 2717
SL: 2712
Sell Zone: 2748 - 2750
SL: 2755
Trade active
Buy Scalp: 2719 - 2717
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