XAUUSD: Get ready for a gold rebound

2024年8月6日

XAUUSD Yesterday, financial markets plummeted due to recession fears, but today global stock markets and stock index futures are rebounding. Gold, despite its drop, is expected to bounce back as a safe-haven asset. Interest rate futures have almost fully priced in a 50 basis point rate cut by the Fed in September

Once recession risks are mitigated, gold's liquidity will make it a top safe-haven choice, especially as purchasing power declines. Additionally, ongoing geopolitical crises will keep influencing gold prices

Technically, 2420 is a key level. Breaking it could open up more upside potential. If not, the downtrend may continue. The 2380-2360 area is strong support; if it holds, prices may rise again, but if broken, further downside is likely

If you have different views or questions, let's discuss the latest insights on GOLD

2024年8月6日

交易進行

Gold stopped falling at 2381 and started to move upward, which is a good sign.

2024年8月6日

交易進行

The market activity is decreasing. At present, it seems that there will not be too much fluctuation today. The specific situation will depend on tomorrow. Tomorrow I will update the market dynamics in real time for your reference. Good night