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At the beginning of this week, international gold prices rose, benefiting from the weaker dollar, while investors paid attention to news on trade progress before the US tariff deadline on August 1. As US inflation data was lower than expected and the market may have some defensive bets against tariffs, gold finally rebounded from the main upward trend line again. The lower-than-expected US inflation data did not trigger the market to re-price more hawkish rate hike expectations.
From a larger perspective, as the Fed's easing policy progresses, real yields may continue to fall, and gold should maintain an upward trend.
Views on today's trend!
Today, gold is rising slowly, and basically there is no chance of a correction, so it also led to our opening directly chasing a wave of gains, and the market has actually had some risks after the rebound to above 3370. After all, the 3373-75 line was a dense pressure area before.
From the current hourly chart, gold has been moving along the upper track of the moving average and has accelerated since breaking through the 3375 line. It is possible that it will test the 3410 line today. After all, it is already at the 3395 line, and today's strength and weakness watershed has actually shifted from 3340 to 3375. After all, the top and bottom conversions are raised synchronously!
Gold: Long around 3375, defend 3365, and target 3395-3405!
At the beginning of this week, international gold prices rose, benefiting from the weaker dollar, while investors paid attention to news on trade progress before the US tariff deadline on August 1. As US inflation data was lower than expected and the market may have some defensive bets against tariffs, gold finally rebounded from the main upward trend line again. The lower-than-expected US inflation data did not trigger the market to re-price more hawkish rate hike expectations.
From a larger perspective, as the Fed's easing policy progresses, real yields may continue to fall, and gold should maintain an upward trend.
Views on today's trend!
Today, gold is rising slowly, and basically there is no chance of a correction, so it also led to our opening directly chasing a wave of gains, and the market has actually had some risks after the rebound to above 3370. After all, the 3373-75 line was a dense pressure area before.
From the current hourly chart, gold has been moving along the upper track of the moving average and has accelerated since breaking through the 3375 line. It is possible that it will test the 3410 line today. After all, it is already at the 3395 line, and today's strength and weakness watershed has actually shifted from 3340 to 3375. After all, the top and bottom conversions are raised synchronously!
Gold: Long around 3375, defend 3365, and target 3395-3405!
Trade active
Gold is adjusting, so we continue to wait
Hey, everyone. I'm Yulia, a girl from Russia working as an analyst in New York, USA. I've been doing this job for 13 years. I have professional financial knowledge. I hope you like me.
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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.
Hey, everyone. I'm Yulia, a girl from Russia working as an analyst in New York, USA. I've been doing this job for 13 years. I have professional financial knowledge. I hope you like me.
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.