Analysis of gold news: Spot gold hit a high and then fell back during the U.S. market on Tuesday (September 10), and is currently trading around $2504.22 per ounce. Gold prices rebounded slightly on Monday, rising above the 2500 mark and closing at $2506.04 per ounce. The rebound in U.S. Treasury yields was blocked and hovered around 15 lows, providing gold with a rebound opportunity, but the rebound in the U.S. dollar index limited the rise in gold prices. Investors are waiting for the U.S. inflation report to provide further clues to the scale of the Fed's possible rate cuts. Gold prices "are likely to be quite stable, perhaps fluctuating slightly within the existing range," said Peter A. Grant, vice president and senior metals strategist at Zaner Metals. He expects gold to hit a record high. According to the CME FedWatch tool, traders currently believe that the Fed has a 73% chance of a 25 basis point rate cut at next week's meeting and a 27% chance of a 50 basis point cut. Investors are now focusing on U.S. consumer price data for August to be released on Wednesday and the producer price index on Thursday. A report released by the New York Federal Reserve on Monday showed that the American public's expectations of inflation pressures in August changed little as current price pressures continued to decline.
The recent trend of gold is quite subtle. From mid-August to now, for almost a month, the price has been running in the large range of 2470-2530. It fell when it touched the top and rebounded when it touched the bottom. The range has never been broken. Last Friday's non-agricultural data only rebounded slightly and fell to around 2530. This shows that there is a lot of short pressure from above. The next day, it rebounded with the support of 2485, and the US market broke through the 2500 mark again. The shock is still continuing.
Judging from the current market, the daily chart bottomed out and rebounded to close with a positive sign. The support below is effective, and at the same time, the downward trend on Friday was not continued, so it is still volatile as mentioned in the early review. After the four-hour lower line support, it broke through the short-term moving average and the middle track. It is expected that it will continue to fluctuate downward with a high probability, and the 4-hour chart will hit the long and short balance of 2507. One is the median, and the other is the upper line of the hourly chart. It is expected that there will be a correction in the short term. The focus of this week is the CPI data on Wednesday, which is an important factor that may break the deadlock in the range. Therefore, the CPI data at the beginning of this week currently maintains the idea of range fluctuations.
The recent trend of gold is quite subtle. From mid-August to now, for almost a month, the price has been running in the large range of 2470-2530. It fell when it touched the top and rebounded when it touched the bottom. The range has never been broken. Last Friday's non-agricultural data only rebounded slightly and fell to around 2530. This shows that there is a lot of short pressure from above. The next day, it rebounded with the support of 2485, and the US market broke through the 2500 mark again. The shock is still continuing.
Judging from the current market, the daily chart bottomed out and rebounded to close with a positive sign. The support below is effective, and at the same time, the downward trend on Friday was not continued, so it is still volatile as mentioned in the early review. After the four-hour lower line support, it broke through the short-term moving average and the middle track. It is expected that it will continue to fluctuate downward with a high probability, and the 4-hour chart will hit the long and short balance of 2507. One is the median, and the other is the upper line of the hourly chart. It is expected that there will be a correction in the short term. The focus of this week is the CPI data on Wednesday, which is an important factor that may break the deadlock in the range. Therefore, the CPI data at the beginning of this week currently maintains the idea of range fluctuations.
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There is no volatility in the market for the time being. Take a break. I will continue to share trading strategies on my channel. I think it will be helpful to you.交易進行
There is no volatility in the market for the time being. Take a break. I will continue to share trading strategies on my channel. I think it will be helpful to you.交易進行
Today, gold is still focusing on the pressure of the previous high of $2531. If it does not break, you can short and look for a retracement. The primary target is $2510. After breaking through, look at $2500-2493. If it breaks up unexpectedly in the evening, the bulls can extend to around $2540 and you can go short again. The retracement target remains unchanged.交易進行
The US will announce the annual CPI rate in 40 minutes. Click on my website to get the trading strategy.交易進行
The news analysis is accurate, shorting gold makes another profit of +110 points, click on my website so that you can enjoy profits every day交易進行
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Gold is still rising strongly, don't short it for now, look for better trading opportunities交易進行
Gold bulls are rising higher and higher, without any pullback. It's Friday now, so there's no need to chase the rise. Slow rises are often followed by sharp declines, so don't chase the longs easily. Gold is a bit stagnant, short at 2579.交易進行
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Gold is still testing new highs, so in the short term, it is still mainly about falling back and doing long. Pay attention to the support in the 2575 area and the resistance in the 2590-2600 area.交易進行
Gold is still testing new highs, so in the short term, it is still mainly about falling back and doing long. Pay attention to the support in the 2575 area and the resistance in the 2590-2600 area.
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