Yesterday, on Monday, we believed that investors' expectations of the Federal Reserve delaying an interest rate cut still put pressure on gold. However, there was little hope for a ceasefire in Gaza, and risk aversion sentiment increased, supporting gold's rebound. The upper pressure focused on $2,328, followed by $2,340, and the lower Support is focused on $2,305, followed by $2,291 and $2,281.
Judging from the subsequent trend, after gold encountered resistance near US$2,324, it continued to fall under short-term pressure, stabilized and rebounded near the high point of US$2,315, and reached a maximum of US$2,331 when it encountered resistance. After that, it fluctuated sideways around US$2,324 until the close. At the opening of trading on Tuesday, gold tested upward, reaching a maximum of $2,329. After encountering resistance, it fell back in shock, falling to a minimum of $2,311. It is currently trading around $2,314. Overall, although geopolitical concerns supported gold's short-term rebound, the rise was limited and gold prices continued to remain range-bound.
Although the U.S. non-farm data was weak, market speculation on the Federal Reserve's interest rate cut increased, and the ceasefire negotiations in Gaza reached an impasse, the risk aversion sentiment increased, which jointly supported the rebound of gold. However, judging from the signals released by the Federal Reserve after last week's meeting, The Federal Reserve will delay cutting interest rates, which will limit the rise in gold prices. Considering that the U.S. data this week is very light, gold may remain volatile in the absence of unexpected factors (mainly geopolitical risks).
In terms of news, Fed Chairman Powell's speech was less hawkish than expected and still released a new high in interest rate cuts to the market. However, he also said that the next step is unlikely to be an interest rate cut, and given previous data, confidence has decreased. The U.S. non-farm payroll data in April was weak, with both employment and wage growth slowing. The weakness in the labor market is favorable for the Federal Reserve to cut interest rates. Gaza's ceasefire negotiations reached an impasse, and the situation became tense for a time, boosting market risk aversion. However, Habas announced on Tuesday that it had agreed to a ceasefire agreement, which dampened safe-haven buying of gold.
In terms of operation, it is recommended to treat it with a shock idea. The upper pressure will focus on $2,325, followed by $2,338. The lower support will focus on $2,312, followed by $2,300. If gold prices fall below $2,300 and are weak in the short term, they may test $2,280 again.
Judging from the subsequent trend, after gold encountered resistance near US$2,324, it continued to fall under short-term pressure, stabilized and rebounded near the high point of US$2,315, and reached a maximum of US$2,331 when it encountered resistance. After that, it fluctuated sideways around US$2,324 until the close. At the opening of trading on Tuesday, gold tested upward, reaching a maximum of $2,329. After encountering resistance, it fell back in shock, falling to a minimum of $2,311. It is currently trading around $2,314. Overall, although geopolitical concerns supported gold's short-term rebound, the rise was limited and gold prices continued to remain range-bound.
Although the U.S. non-farm data was weak, market speculation on the Federal Reserve's interest rate cut increased, and the ceasefire negotiations in Gaza reached an impasse, the risk aversion sentiment increased, which jointly supported the rebound of gold. However, judging from the signals released by the Federal Reserve after last week's meeting, The Federal Reserve will delay cutting interest rates, which will limit the rise in gold prices. Considering that the U.S. data this week is very light, gold may remain volatile in the absence of unexpected factors (mainly geopolitical risks).
In terms of news, Fed Chairman Powell's speech was less hawkish than expected and still released a new high in interest rate cuts to the market. However, he also said that the next step is unlikely to be an interest rate cut, and given previous data, confidence has decreased. The U.S. non-farm payroll data in April was weak, with both employment and wage growth slowing. The weakness in the labor market is favorable for the Federal Reserve to cut interest rates. Gaza's ceasefire negotiations reached an impasse, and the situation became tense for a time, boosting market risk aversion. However, Habas announced on Tuesday that it had agreed to a ceasefire agreement, which dampened safe-haven buying of gold.
In terms of operation, it is recommended to treat it with a shock idea. The upper pressure will focus on $2,325, followed by $2,338. The lower support will focus on $2,312, followed by $2,300. If gold prices fall below $2,300 and are weak in the short term, they may test $2,280 again.
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Many people are looking for free trading information in the market, but the result is losses. If you find me, you will not experience this, and I will help you make profits.
Trade active:
If you are still losing money after seeing the post, you can contact me and I will help you double your account profits within a week. If not, all my services will be free and I will replenish the missing profits to you.
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If your account is losing money, contacting me will be your best option because we have proven this over time and we have made huge profits every week.
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