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💡Message Strategy
Fundamental Analysis: The Macro Environment and Policy Expectations Are Intertwined
From a fundamental perspective, the recent trend in gold prices is driven by multiple factors. First, rising expectations for a September Federal Reserve rate cut have become a key factor supporting gold prices. Last Friday's US non-farm payroll data, which fell short of expectations and saw a significant downward revision from the previous reading, fueled market concerns about an economic slowdown and pushed US Treasury yields lower.
The increased expectations for a rate cut have reduced the upside potential for the US dollar and US Treasury yields, indirectly providing support for gold.
In terms of market sentiment, a rebound in global stock markets has weakened gold's safe-haven demand. The MSCI World Index snapped a six-day losing streak, with the Asia-Pacific Index rising 0.6%. Japan's Nikkei 225 rose 280 points on Tuesday. Europe's STOXX 50 and STOXX 600 indices both rose approximately 0.4%. The UK's FTSE 100 approached its all-time high of 9,150 points. The three major US stock indices performed particularly strongly on Monday, with the S&P 500 rising 1.5%, the Dow Jones Industrial Average soaring 585 points, and the Nasdaq Composite Index rising 1.9%.
The recovery of risk appetite has made investors more inclined to chase high-yield assets, and the attractiveness of gold has temporarily declined.
📊Technical aspects
Technically, gold is likely to continue trading in a narrow range between its 50-day and 100-day moving averages. Key support levels at $3,350 and resistance at $3,385 will be the focus of near-term bull-bear trading. A breakout from fundamental data or news could signal a clearer trend for gold prices.
In the long term, slowing global economic growth, central bank gold purchasing, and persistent geopolitical risks will continue to provide structural support for gold.
If the bulls can regain their footing on the bottom of the ascending triangle pattern and break through the resistance level of $3,380, gold prices are expected to further challenge $3,440 and even retest the historical high.
💰Strategy Package
Long Position:3370-3375，SL:3350，Target: 3400-3420
💡Message Strategy
Fundamental Analysis: The Macro Environment and Policy Expectations Are Intertwined
From a fundamental perspective, the recent trend in gold prices is driven by multiple factors. First, rising expectations for a September Federal Reserve rate cut have become a key factor supporting gold prices. Last Friday's US non-farm payroll data, which fell short of expectations and saw a significant downward revision from the previous reading, fueled market concerns about an economic slowdown and pushed US Treasury yields lower.
The increased expectations for a rate cut have reduced the upside potential for the US dollar and US Treasury yields, indirectly providing support for gold.
In terms of market sentiment, a rebound in global stock markets has weakened gold's safe-haven demand. The MSCI World Index snapped a six-day losing streak, with the Asia-Pacific Index rising 0.6%. Japan's Nikkei 225 rose 280 points on Tuesday. Europe's STOXX 50 and STOXX 600 indices both rose approximately 0.4%. The UK's FTSE 100 approached its all-time high of 9,150 points. The three major US stock indices performed particularly strongly on Monday, with the S&P 500 rising 1.5%, the Dow Jones Industrial Average soaring 585 points, and the Nasdaq Composite Index rising 1.9%.
The recovery of risk appetite has made investors more inclined to chase high-yield assets, and the attractiveness of gold has temporarily declined.
📊Technical aspects
Technically, gold is likely to continue trading in a narrow range between its 50-day and 100-day moving averages. Key support levels at $3,350 and resistance at $3,385 will be the focus of near-term bull-bear trading. A breakout from fundamental data or news could signal a clearer trend for gold prices.
In the long term, slowing global economic growth, central bank gold purchasing, and persistent geopolitical risks will continue to provide structural support for gold.
If the bulls can regain their footing on the bottom of the ascending triangle pattern and break through the resistance level of $3,380, gold prices are expected to further challenge $3,440 and even retest the historical high.
💰Strategy Package
Long Position:3370-3375，SL:3350，Target: 3400-3420
Trade active
The increased expectations of rate cuts have weakened the upside potential of the US dollar and US Treasury yields, indirectly providing support for gold.
Through scientific and rigorous financial analysis and personalized strategy formulation, we help you achieve stable growth of wealth. At the same time, in a complex and changing economic environment, we help you avoid potential risks and protect the saf
Related publications
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.
Through scientific and rigorous financial analysis and personalized strategy formulation, we help you achieve stable growth of wealth. At the same time, in a complex and changing economic environment, we help you avoid potential risks and protect the saf
Related publications
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.