Gold may pull back, but bull trend remains unchanged
Geopolitical risks are one of the important factors behind the recent rise in gold prices. The progress of ceasefire negotiations in Gaza, Iran's threat to the Strait of Hormuz, and the Russia-Ukraine conflict have all triggered risk aversion in the market and promoted the rise in gold prices. Investors need to continue to pay attention to developments in the geopolitical situation, as any major changes may have an impact on gold prices. Secondly, market expectations for interest rate cuts by the Federal Reserve have also supported the rise in gold prices.
Today, the price of gold did not break through $2,365 and hit a new high. The price is currently in a correction, but the bullish trend remains unchanged. Next, you can pay great attention to the 2338-2345 range. If the price falls back to this range, you can go long with a light position. It is not recommended to buy with a heavy position, because it is not ruled out that the price will continue to fall. I will also update in real time according to market changes. You can always follow my strategies.
Today, the price of gold did not break through $2,365 and hit a new high. The price is currently in a correction, but the bullish trend remains unchanged. Next, you can pay great attention to the 2338-2345 range. If the price falls back to this range, you can go long with a light position. It is not recommended to buy with a heavy position, because it is not ruled out that the price will continue to fall. I will also update in real time according to market changes. You can always follow my strategies.
Comment:
At present, gold has encountered great resistance near 2319 and has begun to rebound and rise. There is a high probability that it will continue its upward trend. Pay attention to whether 2319 will fall below.
At present, gold has encountered great resistance near 2319 and has begun to rebound and rise. There is a high probability that it will continue its upward trend. Pay attention to whether 2319 will fall below.
The U.S. non-seasonally adjusted CPI annual rate recorded 3.5% in March, higher than the expected 3.4% level and the highest level since September 2023. As soon as the news was released, the price of gold immediately fell.
Although the current price is falling rapidly, the general direction is still bullish. If the price falls back to the 2300-2315 range, you can buy long orders.