Gold and silver have recently strengthened in tandem. I've already discussed the three main factors driving this simultaneous rise, so let me summarize them again.
① The geopolitical conflict between Russia and Ukraine in the Middle East. Although risk aversion has eased somewhat last week due to Trump's sudden about-face, the actual tension has not significantly improved. This requires continued attention and is a crucial foundation for gold's strength.
② The Federal Reserve cut interest rates for the first time in 14 months. This overall rate cut environment has laid the foundation and will provide sustained support for gold.
③ Gold and silver prices have risen in tandem. Due to the vigorous development of new energy and photovoltaics, the price of silver, a key component of these industries, has surged. This rapid rise in silver has also had a knock-on effect on gold.
Friday's high near 3780 failed to reach a new high. In the short term, further upward momentum will require new stimulus. The release of a series of important economic data next week may provide a new opportunity.
Gold Strategy Analysis
In the short term, focus on support around 3717-3722 and resistance around 3785-3790. Until the range is broken, the strategy of entering short positions at highs and long positions at lows should remain unchanged.
If you don't have a detailed trading plan for gold, follow my updates. I'll update my strategies and ideas daily for your reference, helping you avoid detours on your trading journey.
① The geopolitical conflict between Russia and Ukraine in the Middle East. Although risk aversion has eased somewhat last week due to Trump's sudden about-face, the actual tension has not significantly improved. This requires continued attention and is a crucial foundation for gold's strength.
② The Federal Reserve cut interest rates for the first time in 14 months. This overall rate cut environment has laid the foundation and will provide sustained support for gold.
③ Gold and silver prices have risen in tandem. Due to the vigorous development of new energy and photovoltaics, the price of silver, a key component of these industries, has surged. This rapid rise in silver has also had a knock-on effect on gold.
Friday's high near 3780 failed to reach a new high. In the short term, further upward momentum will require new stimulus. The release of a series of important economic data next week may provide a new opportunity.
Gold Strategy Analysis
In the short term, focus on support around 3717-3722 and resistance around 3785-3790. Until the range is broken, the strategy of entering short positions at highs and long positions at lows should remain unchanged.
If you don't have a detailed trading plan for gold, follow my updates. I'll update my strategies and ideas daily for your reference, helping you avoid detours on your trading journey.
Thirteen years of experience in gold analysis: stable returns are the key to long-term
👇Free Strategy Guidance Channel👇
t.me/Violet_home0808
👇Free Strategy Guidance Channel👇
t.me/Violet_home0808
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Thirteen years of experience in gold analysis: stable returns are the key to long-term
👇Free Strategy Guidance Channel👇
t.me/Violet_home0808
👇Free Strategy Guidance Channel👇
t.me/Violet_home0808
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.