Gold is still in a weak stage, and the consolidation rebound continues to be bearish!
Recently, international tensions have eased, the United States may lower tariffs on Chinese goods, progress has been made in the Russia Ukraine peace talks, market demand for safe haven has weakened, and funds have shifted from gold to risk assets. At the same time, the mining agreement between the United States and Ukraine briefly boosted the US dollar, causing the US dollar index to strengthen and break through the 100 mark. The appreciation of the US dollar led to a relative depreciation of gold, suppressing its price.
From the current market perspective, spot gold is in a downward trend in the short term, with a focus on the suppression of $3260 from above in the short term. Short term operations during trading follow the market direction, rebound and short selling are sufficient. Pay attention to the gains and losses of yesterday's low point of 3200 below, and a drop below 3200 may further move to the 3167 line. Tonight, we will focus on non farm payroll data. If the data becomes further strong, it may suppress gold prices.
Specific strategies
Short selling gold 3260, stop loss 3270. Target 3240
Disclaimer: The above suggestions are for reference only. Investment carries risks, and caution should be exercised when operating
Tips：This page came from Internet, which is not standing for FXCUE opinions of this website.
Statement：Contact us if the content violates the law or your rights