Spot gold continued to pull back, and price fluctuations were mainly driven by the news that the United States and the United Kingdom were about to announce a trade agreement, and the market's risk aversion sentiment cooled significantly. From the daily line structure, the price of gold is currently testing the key support of $3,308 on the middle track of the Bollinger Band, and technical indicators show that the short-term upward momentum has weakened.
🚀Fundamentals: Trade progress and policy expectations dominate the market.
The market focus during the day was on the latest progress of the US-UK trade agreement. According to multiple sources, the two sides are about to announce a new trade arrangement, and this expectation has a direct impact on the short-term trend of gold. Although the specific content of the agreement has not yet been announced, the market reaction shows that investors are adjusting their positions and reducing the allocation of safe-haven assets.
The interest rate decision announced by the Federal Reserve overnight also put pressure on gold. Policymakers kept interest rates unchanged, in line with market expectations, but the emphasis on economic resilience in the statement weakened expectations of a rate cut in the short term. This stance has made the interest-free asset gold relatively less attractive, but the Fed's cautious statement on the impact of tariffs has also limited the decline in gold prices.
🚀Technical aspect: key support level faces test
From the daily level, the current technical structure presents the following characteristics:
Bollinger Band: The price falls back to test the middle track support of $3308. If it effectively falls below, it may further move towards the lower track of $3169; the upper track of $3447 is still an important resistance.
Momentum indicator: Although the MACD indicator maintains a golden cross, the column continues to shrink, indicating that the bullish momentum is weakening; RSI (14) is 57.4, which is in the neutral area.
Key price: The intraday low is close to the short-term support of $3338, and the next technical reference is around $3311. The more important observation area is around $3245, which has significant technical significance.
🚀The intraday trend shows that the gold price encounters obvious resistance near $3413, and this level forms technical pressure with the recent high. If market sentiment continues to improve, the possibility of further correction cannot be ruled out; on the contrary, if the details of the trade agreement are not as expected, the price may rebound quickly.
🚀Outlook for the future: Intertwined bullish and bearish factors
In the short term, the trend of gold will depend on the game of the following factors:
Trade agreement details: The specific content and scope of implementation of the agreement will affect the market risk appetite. If the terms exceed expectations, gold may continue to be suppressed.
Changes in policy expectations: The market's repricing of the Fed's policy may bring volatility, especially the expected adjustment of the interest rate path.
Technical support strength: The support strength of the $3308-3338 area will determine the short-term trend, and a break below it may trigger a larger adjustment.
In the medium term, the uncertainty of global economic policies may still provide support for gold. Technically, the key support area at the daily level deserves close attention, and its defense will affect the subsequent trend.
XAUUSD XAUUSD GOLD XAUUSD GOLD XAUUSD
🚀Fundamentals: Trade progress and policy expectations dominate the market.
The market focus during the day was on the latest progress of the US-UK trade agreement. According to multiple sources, the two sides are about to announce a new trade arrangement, and this expectation has a direct impact on the short-term trend of gold. Although the specific content of the agreement has not yet been announced, the market reaction shows that investors are adjusting their positions and reducing the allocation of safe-haven assets.
The interest rate decision announced by the Federal Reserve overnight also put pressure on gold. Policymakers kept interest rates unchanged, in line with market expectations, but the emphasis on economic resilience in the statement weakened expectations of a rate cut in the short term. This stance has made the interest-free asset gold relatively less attractive, but the Fed's cautious statement on the impact of tariffs has also limited the decline in gold prices.
🚀Technical aspect: key support level faces test
From the daily level, the current technical structure presents the following characteristics:
Bollinger Band: The price falls back to test the middle track support of $3308. If it effectively falls below, it may further move towards the lower track of $3169; the upper track of $3447 is still an important resistance.
Momentum indicator: Although the MACD indicator maintains a golden cross, the column continues to shrink, indicating that the bullish momentum is weakening; RSI (14) is 57.4, which is in the neutral area.
Key price: The intraday low is close to the short-term support of $3338, and the next technical reference is around $3311. The more important observation area is around $3245, which has significant technical significance.
🚀The intraday trend shows that the gold price encounters obvious resistance near $3413, and this level forms technical pressure with the recent high. If market sentiment continues to improve, the possibility of further correction cannot be ruled out; on the contrary, if the details of the trade agreement are not as expected, the price may rebound quickly.
🚀Outlook for the future: Intertwined bullish and bearish factors
In the short term, the trend of gold will depend on the game of the following factors:
Trade agreement details: The specific content and scope of implementation of the agreement will affect the market risk appetite. If the terms exceed expectations, gold may continue to be suppressed.
Changes in policy expectations: The market's repricing of the Fed's policy may bring volatility, especially the expected adjustment of the interest rate path.
Technical support strength: The support strength of the $3308-3338 area will determine the short-term trend, and a break below it may trigger a larger adjustment.
In the medium term, the uncertainty of global economic policies may still provide support for gold. Technically, the key support area at the daily level deserves close attention, and its defense will affect the subsequent trend.
XAUUSD XAUUSD GOLD XAUUSD GOLD XAUUSD 
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Continuously release precise trading plans to lead members to expand profits, with a stable profit of 988% every month. If you have not made a profit yet, then join us. t.me/fahsufnwks
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.