(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.
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At present, the price is showing signs of rebounding and rising near the upward trend line. Radical investors can buy with light positions.
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The price is currently developing according to my prediction and will continue to rise.
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Gold develops according to my prediction and may break through 2417
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There is currently resistance near 2400, and there will be a callback trend next. But the upward trend will continue
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Gold is expected to have a correction next, and it is expected that it may fall back to around 2380