In the morning of the Asian market, spot gold fluctuated slightly and is currently trading around $3,270/ounce, an increase of about 0.9%.
As Mr. Trump's latest statement hit the market's risk appetite, the price of gold rose rapidly in the short term. The current London gold price has reached $3,270/ounce, climbing nearly $30.
In addition, the market focus has turned to the Federal Reserve's May FOMC meeting on May 7. Although the market has priced in a standstill, Powell's latest remarks and press questions after his radical statement in April will attract high attention.
Asian market morning analysis:
Gold prices rebounded again in the morning of the Asian market. Quaid believes that if gold does not break through strongly, it will still fluctuate within the range, and the current bullish situation has not reversed. If gold continues to maintain its strength, it can resume the bullish trend. But it has not broken through for the time being, so the possibility of shorting is still very large.
Gold's 1-hour moving average continues to be in a downward short position, and there is still room for gold shorting; gold was under pressure at 3270 in the early stage and fell back, and the early rebound was under pressure at 3270 and continued to fall. Gold is still fluctuating within the range in 1 hour, and Quide believes that the short-selling trading strategy is still the main one.
Operation strategy:
Short-term operation: short at 3265, stop loss at 3280, and profit at 3250-3240.
I hope Quide's analysis can help all traders make profits in the gold market in time and harvest the first gold of the day.
As Mr. Trump's latest statement hit the market's risk appetite, the price of gold rose rapidly in the short term. The current London gold price has reached $3,270/ounce, climbing nearly $30.
In addition, the market focus has turned to the Federal Reserve's May FOMC meeting on May 7. Although the market has priced in a standstill, Powell's latest remarks and press questions after his radical statement in April will attract high attention.
Asian market morning analysis:
Gold prices rebounded again in the morning of the Asian market. Quaid believes that if gold does not break through strongly, it will still fluctuate within the range, and the current bullish situation has not reversed. If gold continues to maintain its strength, it can resume the bullish trend. But it has not broken through for the time being, so the possibility of shorting is still very large.
Gold's 1-hour moving average continues to be in a downward short position, and there is still room for gold shorting; gold was under pressure at 3270 in the early stage and fell back, and the early rebound was under pressure at 3270 and continued to fall. Gold is still fluctuating within the range in 1 hour, and Quide believes that the short-selling trading strategy is still the main one.
Operation strategy:
Short-term operation: short at 3265, stop loss at 3280, and profit at 3250-3240.
I hope Quide's analysis can help all traders make profits in the gold market in time and harvest the first gold of the day.
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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.