News:
The US economic data in April was weak across the board, with the producer price index (PPI) unexpectedly falling by 0.5%, retail sales growth plummeting to 0.1%, and manufacturing output falling by 0.4%, which severely hit the market's confidence in the US economy. Affected by this, the US bond market fluctuated violently, with the 10-year US bond yield plummeting by 11 basis points and the 2-year yield plummeting by 9.2 basis points; the US dollar index fell by 0.2%, and the real interest rate fell. At the same time, geopolitical risks continue to heat up. The Russia-Ukraine peace talks have reached a deadlock, Putin refused to meet with Zelensky, and the Iran nuclear agreement negotiations have not progressed smoothly. Against this background, the safe-haven attribute of gold has been highlighted, and market attention has increased significantly. Looking ahead to this trading day, a number of important US economic data will be released soon, and the progress of the Russia-Ukraine talks and Trump's dynamics are also attracting much attention. These factors will continue to affect market trends.
Technical aspect: From the perspective of the daily line, gold can no longer be regarded as a unilateral decline after yesterday's bottoming out and rebounding. It should be directly followed by the idea of oscillation! The primary focus today is still the position of the dividing line of 3200.
Trading idea: Go long if it doesn’t break around 3200, sl3190, target 3230
The US economic data in April was weak across the board, with the producer price index (PPI) unexpectedly falling by 0.5%, retail sales growth plummeting to 0.1%, and manufacturing output falling by 0.4%, which severely hit the market's confidence in the US economy. Affected by this, the US bond market fluctuated violently, with the 10-year US bond yield plummeting by 11 basis points and the 2-year yield plummeting by 9.2 basis points; the US dollar index fell by 0.2%, and the real interest rate fell. At the same time, geopolitical risks continue to heat up. The Russia-Ukraine peace talks have reached a deadlock, Putin refused to meet with Zelensky, and the Iran nuclear agreement negotiations have not progressed smoothly. Against this background, the safe-haven attribute of gold has been highlighted, and market attention has increased significantly. Looking ahead to this trading day, a number of important US economic data will be released soon, and the progress of the Russia-Ukraine talks and Trump's dynamics are also attracting much attention. These factors will continue to affect market trends.
Technical aspect: From the perspective of the daily line, gold can no longer be regarded as a unilateral decline after yesterday's bottoming out and rebounding. It should be directly followed by the idea of oscillation! The primary focus today is still the position of the dividing line of 3200.
Trading idea: Go long if it doesn’t break around 3200, sl3190, target 3230
Trade active
Gold is falling rapidly in the short term, pay attention to the support near 3200Note
Gold rebounded after falling back to around 3200Note
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I will no longer update articles for a while. If you want to know my latest trading ideas, you can check out my profile! If you want to know my latest trading ideas, you can check out my profile!!
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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.