Macro theme:
- Gold prices retreated from recent highs as improved risk sentiment following the US-China trade deal and a stronger US dollar weighed on safe-haven demand.
- Gold ETFs recorded modest outflows in Apr, but the withdrawal slowdown suggests easing profit-taking pressure.
- In the near term, trade optimism may keep gold under pressure, though central bank demand and portfolio diversification continue to support the long-term outlook.
Technical theme:
- XAUUSD pulled back from the swing high near 3430, forming a lower high and moving into a sideways structure between EMAs.
- A close below 3230 could trigger further downside toward 3135,
- On the contrary, holding above 3230 may prompt a retest of the 3430 level.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
- Gold prices retreated from recent highs as improved risk sentiment following the US-China trade deal and a stronger US dollar weighed on safe-haven demand.
- Gold ETFs recorded modest outflows in Apr, but the withdrawal slowdown suggests easing profit-taking pressure.
- In the near term, trade optimism may keep gold under pressure, though central bank demand and portfolio diversification continue to support the long-term outlook.
Technical theme:
- XAUUSD pulled back from the swing high near 3430, forming a lower high and moving into a sideways structure between EMAs.
- A close below 3230 could trigger further downside toward 3135,
- On the contrary, holding above 3230 may prompt a retest of the 3430 level.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
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I’ve taken a break from my public community engagements to focus on raising my three kids, but I'm rediscovering my passion for working again. Stay connected, as I plan to return and rejoin my old communities with a lot of new skills one day soon.
相關出版品
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。