Gold Trend Analysis

7 agoContinuing the plunge in stock markets on Monday, gold also headed for a low. The reason is that the market's expectations for the Fed to cut interest rates by 50 basis points in September have declined. The yield on the 10-year U.S. Treasury bond has risen to 3.94%. These two pieces of information have undoubtedly greatly weakened traders' confidence in entering the market. However, as a traditional safe-haven asset, gold has performed well amid geopolitical tensions and concerns about a global recession. Continued tensions in the Middle East and concerns about the outlook for the global economy have provided support for gold. At the same time, data from the People's Bank of China showed that gold reserves at the end of July were the same as the previous month, showing the central bank's stable demand for gold. Support level 2430 2450 Resistance level 2395 2385 2370 What do you think of the trend of gold? Welcome everyone to follow and comment

7 ago

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The market is currently volatile and has fallen below the resistance level of 2400. Please be cautious when trading. If you have no idea about the trend of gold prices and your account is losing money, please follow me or leave me a message.

7 ago

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I will update the trend of gold prices in my group every day and help my friends maximize their benefits. Today’s income is 2100+. If you want to learn from them, please follow me. Thank you.

7 ago

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Gold is now above the Bollinger Bands. The short-selling signal is obvious. You can enter the market with small capital. Stop profit at 2380

7 ago

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At present, the downward trend of gold has slowed down, but from the daily chart, the overall trend is still inclined to decline in the short term.

7 ago

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In line with expectations, 2385 exited. If you are unclear about market control, you can follow me or leave a comment.