Gold trading forecast

Gold fell below the $1,900 mark for the first time since March, with a low of 1,892 supported as hawkish talk from Federal Reserve Chairman Jerome Powell and strong economic data released this week reinforced market expectations for a Fed rate hike, and the dollar index rose for two straight weeks. Thursday's decline is mainly due to the Federal Reserve Chairman Powell's speech, it is expected to further raise interest rates this year, keep the pace of interest rate hikes unchanged, the impact on international gold is very large, the price fell in response, although there is still a rebound, but it has not changed the downward trend pattern.

Gold weekly monthly close, are continuous black line, then the downward trend has not changed, touch the upper resistance level around 1920 can try to short, if gold breaks through 1925 first close the order, choose to wait and see, see the resistance level test around 1933, the lowest position of gold can still see around 1870, the operation is still based on high altitude, reach the pressure level to try short.

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