The gold price continued its steady retracement during the European session, pulling back from a two-month high to around $3,400. The positive performance of equity markets is regarded as a key factor undermining the safe-haven demand for precious metals, as gold's three-day winning streak appears to have come to an end. However, analysts believe the downside remains limited, as traders may avoid aggressive positioning ahead of Wednesday's crucial Federal Open Market Committee (FOMC) policy decision.
Meanwhile, growing market expectations that the Federal Reserve will further cut interest rates in 2025 have kept the U.S. dollar under sustained pressure after it hit a three-year low last Friday. This scenario, in turn, provides some support for non-yielding gold. Additionally, persistent trade uncertainties and escalating geopolitical tensions in the Middle East may emerge as drivers for gold prices, keeping bearish traders cautious before any meaningful downward moves.
Although gold has broken below $3,400 and the short-term trend has shifted, the long-term direction remains unchanged with a bullish bias. There is still potential to target the $3,500 high in the future, but it is necessary to wait for the bottom to stabilize before accumulating long positions. In the current market, we can only follow the trend—adapting to market movements. Consider initiating short positions during the rebound in the coming two days.
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sell@3420-3430
TP:3380-3390
Meanwhile, growing market expectations that the Federal Reserve will further cut interest rates in 2025 have kept the U.S. dollar under sustained pressure after it hit a three-year low last Friday. This scenario, in turn, provides some support for non-yielding gold. Additionally, persistent trade uncertainties and escalating geopolitical tensions in the Middle East may emerge as drivers for gold prices, keeping bearish traders cautious before any meaningful downward moves.
Although gold has broken below $3,400 and the short-term trend has shifted, the long-term direction remains unchanged with a bullish bias. There is still potential to target the $3,500 high in the future, but it is necessary to wait for the bottom to stabilize before accumulating long positions. In the current market, we can only follow the trend—adapting to market movements. Consider initiating short positions during the rebound in the coming two days.
you are currently struggling with losses，or are unsure which of the numerous trading strategies to follow,You have the option to join our VIP program. I will assist you and provide you with accurate trading signals, enabling you to navigate the financial markets with greater confidence and potentially achieve optimal trading results.
Trading Strategy:
sell@3420-3430
TP:3380-3390
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You❗️CAN and ❗️SHOULD make money in trading!
t.me/+jqmDDXFtAyNhMjZk
"The Golden Key to Financial Freedom"
t.me/+jqmDDXFtAyNhMjZk\
Join me, I'll guide you to PROFITABLE TRADING💵!
t.me/+jqmDDXFtAyNhMjZk
t.me/+jqmDDXFtAyNhMjZk
"The Golden Key to Financial Freedom"
t.me/+jqmDDXFtAyNhMjZk\
Join me, I'll guide you to PROFITABLE TRADING💵!
t.me/+jqmDDXFtAyNhMjZk
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.