XAU#18: Latest Update: Gold Price Continues Its Upward Journey?
💎 💎 💎 
XAUUSD once again surpassed a new peak. However, there was a slight correction yesterday. So let's analyze whether XAUUSD will continue to set a new peak today: 💎 💎 💎
1️⃣ **Fundamental analysis:**
📊Gold exports from Singapore to the US increased dramatically. Gold futures prices on the New York COMEX floor are higher than physical gold prices in London, promoting the flow of gold from other markets into the US to benefit from this difference.
🔴Fed meeting minutes | No rush to cut interest rates, consider slowing down or pausing the balance sheet reduction. Interest rate policy: The Fed kept interest rates unchanged (4.25%-4.50%) and has no plans to cut interest rates soon. The first cut is expected in July or later.
🚀 There is a turning point in the ceasefire between Russia and Ukraine, and investors are betting ahead! Investors are positioning for an early end to the Russia-Ukraine conflict after US President Donald Trump and Russian President Vladimir Putin discussed the issue.
📌Overall, we can see that the fundamentals are not supporting the gold price increase. However, the gold price increase is still coming from the uncertainty about US tariff policies and concerns about the weakening economy.
2️⃣ **Technical analysis:**
🔹 **D frame**: the previous day's increase is currently a bit hesitant like yesterday's candle. However, gold is still in a strong uptrend.
🔹 **H4 frame**: the bullish price structure is too clear. We had a slight correction at the end of yesterday but recovered immediately afterwards, showing that market sentiment is still very optimistic about the prospect of gold's increase.
🔹 **H1 frame**: Looking at the chart, everyone can see that H1 is temporarily in a decreasing channel. However, the decreasing structure has not been confirmed. The price can still accumulate and bounce to break the peak at any time
3️⃣ **Trading plan:*
⛔ The current price structure is still supporting the bulls, but we also need to pay attention to important information at this time about the Russia-Ukraine war. If there is official information about the ceasefire agreement, it will cause gold prices to decrease.
✅ Prioritize BUY following the main trend. The target of the 3000 area from previous articles analyzed is very close. You can refer to the plan in the H1 frame to set up a position
💪 **Wish you successful trading!**
XAUUSD once again surpassed a new peak. However, there was a slight correction yesterday. So let's analyze whether XAUUSD will continue to set a new peak today: 💎 💎 💎1️⃣ **Fundamental analysis:**
📊Gold exports from Singapore to the US increased dramatically. Gold futures prices on the New York COMEX floor are higher than physical gold prices in London, promoting the flow of gold from other markets into the US to benefit from this difference.
🔴Fed meeting minutes | No rush to cut interest rates, consider slowing down or pausing the balance sheet reduction. Interest rate policy: The Fed kept interest rates unchanged (4.25%-4.50%) and has no plans to cut interest rates soon. The first cut is expected in July or later.
🚀 There is a turning point in the ceasefire between Russia and Ukraine, and investors are betting ahead! Investors are positioning for an early end to the Russia-Ukraine conflict after US President Donald Trump and Russian President Vladimir Putin discussed the issue.
📌Overall, we can see that the fundamentals are not supporting the gold price increase. However, the gold price increase is still coming from the uncertainty about US tariff policies and concerns about the weakening economy.
2️⃣ **Technical analysis:**
🔹 **D frame**: the previous day's increase is currently a bit hesitant like yesterday's candle. However, gold is still in a strong uptrend.
🔹 **H4 frame**: the bullish price structure is too clear. We had a slight correction at the end of yesterday but recovered immediately afterwards, showing that market sentiment is still very optimistic about the prospect of gold's increase.
🔹 **H1 frame**: Looking at the chart, everyone can see that H1 is temporarily in a decreasing channel. However, the decreasing structure has not been confirmed. The price can still accumulate and bounce to break the peak at any time
3️⃣ **Trading plan:*
⛔ The current price structure is still supporting the bulls, but we also need to pay attention to important information at this time about the Russia-Ukraine war. If there is official information about the ceasefire agreement, it will cause gold prices to decrease.
✅ Prioritize BUY following the main trend. The target of the 3000 area from previous articles analyzed is very close. You can refer to the plan in the H1 frame to set up a position
💪 **Wish you successful trading!**
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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.
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.