Gold prices maintained a strong upward trend during the Asian trading session, approaching the integer mark of $3,400 during the session, setting a record high. The main driving force is the market's growing concerns about US President Trump's latest tariff policy.
Trump recently announced that tariffs of up to 145% would be imposed on goods from some Asian countries, and some categories even reached 245%. According to market surveys, Asian countries also immediately imposed tariffs of up to 125% on US products, triggering concerns about the risk of a global economic downturn.
The current policy and trade uncertainties will continue to support the buying enthusiasm of non-yielding assets such as gold.
Despite the strong bull market, the technical side shows that gold is already in an overbought state, and the daily RSI index exceeds 70, indicating that there may be an adjustment or consolidation trend in the short term. If there is a pullback, the support levels are $3,350, $3,328 and $3,300, respectively, and the key support is in the $3,284 area.
Next focus of the market
This week, the market will focus on the upcoming global PMI preliminary data, which will provide further guidance on the health of the global economy. At the same time, the speech of Chicago Fed President Goolsbee may also have a certain impact on the trend of the US dollar.
Judging from the current multiple factors, the price of gold is still strong in the short term due to the support of risk aversion. However, the overbought signs on the technical side cannot be ignored, and the short-term adjustment will provide a more stable foundation for the medium-term rise.
Quide's operation suggestion:
3380 long, stop loss 3270, take profit above 3400.
I am Quaid. Seeing my analysis strategy, no matter the past gains and losses, I hope you can achieve investment breakthroughs with my help and turn every tide of the gold market into our wealth wave.
Trump recently announced that tariffs of up to 145% would be imposed on goods from some Asian countries, and some categories even reached 245%. According to market surveys, Asian countries also immediately imposed tariffs of up to 125% on US products, triggering concerns about the risk of a global economic downturn.
The current policy and trade uncertainties will continue to support the buying enthusiasm of non-yielding assets such as gold.
Despite the strong bull market, the technical side shows that gold is already in an overbought state, and the daily RSI index exceeds 70, indicating that there may be an adjustment or consolidation trend in the short term. If there is a pullback, the support levels are $3,350, $3,328 and $3,300, respectively, and the key support is in the $3,284 area.
Next focus of the market
This week, the market will focus on the upcoming global PMI preliminary data, which will provide further guidance on the health of the global economy. At the same time, the speech of Chicago Fed President Goolsbee may also have a certain impact on the trend of the US dollar.
Judging from the current multiple factors, the price of gold is still strong in the short term due to the support of risk aversion. However, the overbought signs on the technical side cannot be ignored, and the short-term adjustment will provide a more stable foundation for the medium-term rise.
Quide's operation suggestion:
3380 long, stop loss 3270, take profit above 3400.
I am Quaid. Seeing my analysis strategy, no matter the past gains and losses, I hope you can achieve investment breakthroughs with my help and turn every tide of the gold market into our wealth wave.
Penerbitan berkaitan
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.
Penerbitan berkaitan
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.