Gold at risk if US–China talks fail

10 Jun

📊 Market Overview:

• Spot gold is trading around $3,309–$3,311/oz (according to TradingEconomics, Kitco…), slightly down by 0.5% as markets await the outcome of US–China trade talks in London.
• The US dollar has eased following some positive signals from the talks, but overall market caution remains high ahead of the June 11 CPI release and the upcoming Federal Reserve decision.

📉 Technical Analysis:

• Key resistance: $3,340 (June consolidation ceiling); further upside at $3,353–$3,370 if a breakout occurs.
• Nearest support: $3,298 (monthly pivot); if breached, price may move toward $3,270 → $3,243.
• EMA09/EMA20/EMA50: Price is trading below the short- to mid-term EMAs, indicating a consolidating or slightly bearish trend.
• Candlestick/momentum: Sideways structure within $3,298–$3,332; weak momentum. RSI and Stochastic are below mid-levels, signaling market caution.

📌 Outlook:
• Gold may continue to consolidate or edge lower in the short term if the US–China negotiations fail to deliver a significant breakthrough and no strong bullish data emerges.
• Conversely, any signs of renewed tension, failed trade talks, or unexpectedly high inflation figures could reignite bullish momentum and push prices back toward the $3,332–$3,370 range.
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💡 Trade Strategy Suggestion:

➡️ SELL XAU/USD
Entry: $3,330–$3,335
• 🎯 TP: ~$3,310
• ❌ SL: $3,345

➡️ BUY XAU/USD
Entry: $3,298–$3,305
• 🎯 TP: ~$3,320
• ❌ SL: $3,288

10 Jun

Dagangan aktif

Gold Prices Rise: Gold prices increased due to concerns about the progress of US-China trade negotiations.