Trump can't bear it, and gold is expected to be adjusted
Last week, gold continued its downward trend at the end of last week and closed negative on Monday. On Tuesday, it surged and fell back. From Wednesday to Friday, it rose strongly and closed with a large bullish line on three trading days. The weekly line finally closed with a large bullish line with a downward shadow. Gold once again broke its high point, reaching above 3245.
Trump has adjusted his tariff policy and suspended heavy taxes on some countries for 90 days, but the market is concerned about the contraction of global trade volume, and the risk aversion related to tariffs is rising. Funds have flowed into the gold market, making gold the preferred safe haven asset. At the same time, global central banks continue to purchase gold, and the inflow of gold ETF funds has surged, indicating institutions' long-term optimism towards gold and providing a solid support foundation for gold prices.
Last week, gold continued to go long and easily grasped the market trend. With the stimulation from last week, gold is expected to experience a correction this week. Fear of heights has never been a reason for not entering the arena. History is meant to be refreshed, and it has little to do with one's own height. It is the logic behind it that many people cannot understand. Focus on the upper suppression level 3236 within the day, which is also the position for short selling today.
Gold retracement 3200, buy long, defend 3192. Target 3215-3230
Gold rebounds 3236, short selling, defending 3246. Target 3210-3180
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