Gold price emphasizes the increase of 2,225 USD
Dear friends, let's discuss and strategize for today's gold price!
Overall, the medium-term outlook still suggests upside for gold towards new global ranges. At the time of writing the price is trading steady around $2,278, highlighting a 0.53% decrease on the day. Today's Unemployment Rate and NonFarm Claims are strong news, bringing unpredictable declines, we need to understand that breaking the ascending channel support will break the structure.
Regarding international market information:
Today's gold price gently adjusted, from $2,300 to $2,272, reflecting volatility but not eclipsing the long-term growth trend. In the face of inflationary pressure and positive economic data, the Fed may continue its strict monetary policy. However, policy flexibility is still the driving force behind gold prices, along with pressure from the national debt, creating a solid foundation for price increases. Gold, therefore, is still an attractive investment channel, resistant to inflation and instability.
Conclude:
Based on the above analysis, it can be concluded that although the current gold price has a small correction, the long-term outlook is still positive. Inflationary pressures and the Fed's monetary policy, along with other factors such as large government debt, all favor a bullish price environment for gold. Gold continues to be an attractive investment option, especially in the context of current economic instability, providing a safe and anti-inflation investment channel.
Regarding technical analysis and prediction of gold prices in the near future:
- Gold has crossed above both the 34-day and 89-day exponential moving averages (EMA), suggesting further upside is possible.
There is clearly still profit-taking pressure from the 2300-2305 resistance level but the possibility of price increases is still firmly supported. Currently, on the 4-hour time frame, the EMA signal along with the uptrend supports the increase in gold price. The price target of reaching the $2,350 area continues to be emphasized.
Overall, the medium-term outlook still suggests upside for gold towards new global ranges. At the time of writing the price is trading steady around $2,278, highlighting a 0.53% decrease on the day. Today's Unemployment Rate and NonFarm Claims are strong news, bringing unpredictable declines, we need to understand that breaking the ascending channel support will break the structure.
Regarding international market information:
Today's gold price gently adjusted, from $2,300 to $2,272, reflecting volatility but not eclipsing the long-term growth trend. In the face of inflationary pressure and positive economic data, the Fed may continue its strict monetary policy. However, policy flexibility is still the driving force behind gold prices, along with pressure from the national debt, creating a solid foundation for price increases. Gold, therefore, is still an attractive investment channel, resistant to inflation and instability.
Conclude:
Based on the above analysis, it can be concluded that although the current gold price has a small correction, the long-term outlook is still positive. Inflationary pressures and the Fed's monetary policy, along with other factors such as large government debt, all favor a bullish price environment for gold. Gold continues to be an attractive investment option, especially in the context of current economic instability, providing a safe and anti-inflation investment channel.
Regarding technical analysis and prediction of gold prices in the near future:
- Gold has crossed above both the 34-day and 89-day exponential moving averages (EMA), suggesting further upside is possible.
There is clearly still profit-taking pressure from the 2300-2305 resistance level but the possibility of price increases is still firmly supported. Currently, on the 4-hour time frame, the EMA signal along with the uptrend supports the increase in gold price. The price target of reaching the $2,350 area continues to be emphasized.
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