Gold can be bought if it retreats to the 2840-2850 range

2月6日

To understand why gold prices continue to rise, one must first recognize the functions and inherent attributes of gold. Historically, gold was used as a currency, and today, beyond its industrial and commodity characteristics, it also serves significant financial and monetary roles.

Currently, strong physical gold demand is evident. This, coupled with market concerns triggered by Trump's tariff policies—even if implementation has been postponed—keeps the uncertainty high, thereby boosting market risk aversion and increasing sustained buying pressure on gold.

Moreover, as countries initiate another round of interest rate cuts, the cost of holding gold decreases, naturally enhancing its appeal as a non-yield asset.

At the same time, central banks around the world are steadily increasing their gold reserves. This large-scale accumulation not only signals confidence in the future of gold prices but also represents one of the most powerful buying forces in the market, supporting the upward price movement.

Against this backdrop, gold prices have surged robustly and are continually setting new highs. To date, gold has reached record highs for five consecutive trading days, clearly demonstrating strong bullish momentum.

With today's market consolidation and the Fibonacci retracement from 2772 to 2882, the 2840-2850 range appears to be a short-term support zone. If gold retraces to this area and holds, it could be considered a potential entry point to maintain a bullish stance, targeting the previous high of 2880 or the round number of 2900.

2月6日

交易進行

Gold has retreated as anticipated, and the current price is now at 2840. Please monitor the resistance at this level closely. If it breaks decisively below this point, we will wait for a retest of the 2810-2830 zone. However, if support holds here, we will consider entering a long position.

2月7日

交易結束：目標達成

The long orders we entered yesterday at 2840-2850 can now be closed with profit, with a profit margin of 20-30$. Now we will consider new trading plans after the NFP data is released.

2月7日

註釋

Combined with the current market sentiment and the non-farm data that has not yet been released, my personal expectation before this is that gold prices need to adjust and repair after rising continuously. The evening data is positive, and there is a possibility of an upward breakthrough, but whether it can be sustained is unknown. The possibility of the positive turning into negative cannot be ruled out. In other words, as for the impact of today's non-farm data, I am not very optimistic that it can continue to guide gold prices to continue to rise, and we need to be vigilant about the risk of pullback.

2月7日

註釋

NFP data is bullish, but the performance is not strong. If it cannot stand at 2900 today, it is likely to start to pull back, or the positive news is digested in advance and it will pull back directly. We will continue to wait and see, and not trade for the time being, waiting for the signal to become clearer.