Gold will continue to fluctuate and rise(April 19) Gold rose nearly 40 US dollars at the opening, refreshing its recent high of 2,417 US dollars, mainly due to the sound of explosions in Iran and other countries. A U.S. official later confirmed to the media that an Israeli missile hit a target in Iran. This quickly heated up market concerns about the geopolitical situation, providing upward momentum for gold and crude oil (82.28, 0.18, 0.21%).
However, gold fell back quickly afterwards. This is also the experience in the past. The sharp rise in the morning cannot be chased. After all, risk aversion can come and go quickly. At present, the conflict between Israel and Iran is more likely to escalate than to deescalate. Iran may retaliate in the future and fight against each other again. Therefore, the risk aversion sentiment is still strong, and the follow-up will be mainly bullish.
Today we mainly focus on the 2354-2369 range. If the price falls back to this range, you can buy. It is not recommended to short gold at the moment.