Gold trend analysis

Gold prices continued to fall last week. With the Federal Reserve looking likely to maintain its aggressive rate hike policy. Rising bond yields are creating a challenging environment for gold prices, with mixed sentiment and it doesn't mean that gold prices will rise sharply anytime soon. Gold prices are more likely to fall in the near term. Fed Chairman Jerome Powell will maintain his hawkish stance when he speaks at the central bank's annual meeting in Jackson Hole next week, signaling that interest rates will remain elevated for longer. Markets are now pricing in higher U.S. interest rates for an extended period, a dynamic that will support the dollar and be bad news for the precious metals. In this context, gold prices may continue to be under pressure, with the next important support level at 1875

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After the opening of the Asian market, gold bottomed out and rebounded, but the price has not broken the middle track. Personally, I think today's gold trading strategy is mainly to short after the price rebounds

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