Today's gold price: continue to short around 3350

Today's gold price: continue to short around 3350

Currently, gold prices are suppressed by fundamentals

The easing signals released by the Sino-US trade negotiations have weakened the demand for safe-haven assets, but the Fed's interest rate cut expectations and geopolitical situation still provide support. Under the interweaving of long and short factors, gold prices are volatile.

Key price:

Resistance: $3365 (upper edge of daily range), $3340-3350 (4-hour chart pressure level)

Support: $3300 (midline of daily range/psychological barrier), $3250 (strong support area)

Operation strategy:

Short order opportunity (main strategy)

Entry area: $3347-3352 (near the upper edge of the 4-hour chart pressure level)

Stop loss: $3365 (if the upper edge of the daily range is broken, the trend may turn strong)

Target:

First target: $3335 (midline support level of hourly chart)

Second target: $3310 (lower track of 4-hour chart/extension of intraday low)

Risk warning
Event risk:

If the Sino-US negotiations deteriorate unexpectedly, or the Federal Reserve unexpectedly releases dovish signals, it may trigger safe-haven buying of gold and break through the 3365 pressure.