Gold short sellers hit the 3,000 mark in a bloodbath?
News: The gold market has been experiencing violent fluctuations recently, with a significant correction from historical highs, triggering heated discussions in the market. Its price decline is mainly driven by two major factors: First, global trade tensions have eased. China and the United States have significantly reduced tariffs and suspended some tariffs for 90 days, which has greatly boosted market risk appetite. Investors have evacuated safe-haven assets and the demand for gold has declined. Second, the U.S. dollar index has bottomed out, and U.S. Treasury bond yields have also hit a six-week high. The 10-year Treasury bond yield has exceeded 4.5%. The Fed's adjustment in interest rate cut expectations has made non-interest-bearing assets such as gold less attractive. However, geopolitical risks have not completely dissipated, and the US-EU trade negotiations have progressed slowly, which may re-boost gold's safe-haven demand in the future. In the short term, trade optimism and a stronger US dollar may continue to suppress gold prices; but in the medium and long term, geopolitical uncertainty, inflationary pressures and central bank demand for gold purchases will provide support for gold prices.
From the four-hour level, a double top is formed at the 3500 and 3440 positions above. Gold continued to fall after breaking below 3200. The continued decline has released a clear short signal.The focus below is on the weekly 3100 area support.The ultimate goal of this round of adjustment is to look at the 3030-2980 range
From the four-hour level, a double top is formed at the 3500 and 3440 positions above. Gold continued to fall after breaking below 3200. The continued decline has released a clear short signal.The focus below is on the weekly 3100 area support.The ultimate goal of this round of adjustment is to look at the 3030-2980 range
Nota
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Pay attention to the pressure above 3168Nota
Short-term trading ideas: short near 3168, stop loss 3178, tp 3130
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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.