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International gold prices continued to fall on Monday. Last Friday, the White House announced it would issue an executive order clarifying its position on gold bar tariffs. As the market digests the initial impact of US tariffs, which could disrupt the circulation of gold bars, both spot and futures prices have fallen. Elsewhere, President Trump and Russian President Vladimir Putin plan to meet in Alaska on Friday to discuss ending the war in Ukraine.
A gold market outlook!
Gold opened high and closed low today, having fallen $55 to date. With the price now re-entering the key support level of 3350, whether it can rebound is the key to today's market. I am currently bullish on 3350, as it was a key support level during previous periods of multiple resonance. A break below this level would be highly unfavorable for bulls.
In the short term, 3350 is the starting point for the non-farm payroll report. If it breaks, it could potentially reach the early-month low of 3340. Today, I suggest continuing to try a long position at the current level of 3349. The defensive retracement point is at the early-month low of 3340, hoping for a pullback. The upward trend is towards 3365-73!
Gold: Enter a long position directly at the current price of 3349-50, with a defensive level at 40 and a target of 3365-73!
International gold prices continued to fall on Monday. Last Friday, the White House announced it would issue an executive order clarifying its position on gold bar tariffs. As the market digests the initial impact of US tariffs, which could disrupt the circulation of gold bars, both spot and futures prices have fallen. Elsewhere, President Trump and Russian President Vladimir Putin plan to meet in Alaska on Friday to discuss ending the war in Ukraine.
A gold market outlook!
Gold opened high and closed low today, having fallen $55 to date. With the price now re-entering the key support level of 3350, whether it can rebound is the key to today's market. I am currently bullish on 3350, as it was a key support level during previous periods of multiple resonance. A break below this level would be highly unfavorable for bulls.
In the short term, 3350 is the starting point for the non-farm payroll report. If it breaks, it could potentially reach the early-month low of 3340. Today, I suggest continuing to try a long position at the current level of 3349. The defensive retracement point is at the early-month low of 3340, hoping for a pullback. The upward trend is towards 3365-73!
Gold: Enter a long position directly at the current price of 3349-50, with a defensive level at 40 and a target of 3365-73!
Trade active
Let's wait for the data to be adjusted.Trade closed: target reached
Gold bullish outlook remains unchanged, let's wait for profit
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.