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💡Message Strategy
As trade uncertainty heats up, gold welcomes safe-haven buying
After the Trump administration issued a series of tariff notices against many countries around the world, market risk aversion has intensified. The US President announced on Wednesday that a new 50% tariff on copper imports will be imposed from August 1, and reiterated that "the deadline will not be extended for countries that have received the notice, and any retaliatory measures will be responded to by tax increases."
This move has triggered market concerns about the slowdown in global economic growth, and traditional safe-haven assets such as gold have been sought after. The current gold price has rebounded significantly from the one-and-a-half-week low hit the previous day.
According to market surveys, safe-haven funds are being reconfigured, especially in the context of the unclear Fed policy and the direction of the US dollar, gold has become a non-yielding asset preferred in the short term.
📊Technical aspects
From the 1H chart, the gold price has approached the 100-period simple moving average (SMA), which is currently located around 3,335, forming an initial resistance. If the price effectively breaks through this area, the next resistance level will be in the 3,345-3,350 range. Once it breaks through, it may trigger a short-covering market, pushing the gold price back to the 3,400 integer mark.
If gold breaks above 3,360, it will confirm the short-term bottom and open the door to re-challenging the high point of the year. On the contrary, if the gold price falls below 3,300 again, it may retest the 3,280 support, and further downside space will extend to the July low of 3,247.
For now, the performance of gold bulls is relatively prominent, and it is recommended to do more on the pullback.
💰Strategy Package
Long Position:3300-3310，SL：3285，Target: 3340-3350
💡Message Strategy
As trade uncertainty heats up, gold welcomes safe-haven buying
After the Trump administration issued a series of tariff notices against many countries around the world, market risk aversion has intensified. The US President announced on Wednesday that a new 50% tariff on copper imports will be imposed from August 1, and reiterated that "the deadline will not be extended for countries that have received the notice, and any retaliatory measures will be responded to by tax increases."
This move has triggered market concerns about the slowdown in global economic growth, and traditional safe-haven assets such as gold have been sought after. The current gold price has rebounded significantly from the one-and-a-half-week low hit the previous day.
According to market surveys, safe-haven funds are being reconfigured, especially in the context of the unclear Fed policy and the direction of the US dollar, gold has become a non-yielding asset preferred in the short term.
📊Technical aspects
From the 1H chart, the gold price has approached the 100-period simple moving average (SMA), which is currently located around 3,335, forming an initial resistance. If the price effectively breaks through this area, the next resistance level will be in the 3,345-3,350 range. Once it breaks through, it may trigger a short-covering market, pushing the gold price back to the 3,400 integer mark.
If gold breaks above 3,360, it will confirm the short-term bottom and open the door to re-challenging the high point of the year. On the contrary, if the gold price falls below 3,300 again, it may retest the 3,280 support, and further downside space will extend to the July low of 3,247.
For now, the performance of gold bulls is relatively prominent, and it is recommended to do more on the pullback.
💰Strategy Package
Long Position:3300-3310，SL：3285，Target: 3340-3350
Trade active
Global trade uncertainty drives up risk aversion, and the next direction of gold seems to be clearTrade closed: target reached
Gold is low and long, and has reached the profit target
Through scientific and rigorous financial analysis and personalized strategy formulation, we help you achieve stable growth of wealth. At the same time, in a complex and changing economic environment, we help you avoid potential risks and protect the saf
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Through scientific and rigorous financial analysis and personalized strategy formulation, we help you achieve stable growth of wealth. At the same time, in a complex and changing economic environment, we help you avoid potential risks and protect the saf
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.