International gold prices rebounded as investors bought on dips after a sharp drop in the previous trading day, while the market focus remained on U.S.-China trade tensions.
As of press time, spot gold rose 1.6% to $3,340.79, reaching a high of $3,367 in the Asian session. Gold fell more than 3% on Wednesday, the biggest one-day drop since late November last year.
In addition, the decline in the U.S. dollar index made dollar-denominated gold cheaper for overseas buyers, which also supported gold prices.
Quaid's analysis:
Although the White House has repeatedly released signals this week that relations with Beijing may ease, China said on Thursday that there are currently no ongoing negotiations with the United States on tariffs. China's strong attitude also affects the current trend of gold.
In addition, the data released by the United States today on the number of initial jobless claims in the United States for the week ending April 19 and the monthly rate of durable goods orders in March also directly guided the trend of gold.
Quaid believes that the current trend of gold is still in an upward stage; gold is still supported by many favorable factors, and the "gold bulls" may eventually break through the $3,500 mark firmly.
Quaid recommends the operation strategy:
3335 long, 3330 stop loss, and look up to 3380.
Every decisive decision is paving the way for account value-added. Every decisive decision paves the way for account appreciation. Trust your own judgment, and gold will crown you.
As of press time, spot gold rose 1.6% to $3,340.79, reaching a high of $3,367 in the Asian session. Gold fell more than 3% on Wednesday, the biggest one-day drop since late November last year.
In addition, the decline in the U.S. dollar index made dollar-denominated gold cheaper for overseas buyers, which also supported gold prices.
Quaid's analysis:
Although the White House has repeatedly released signals this week that relations with Beijing may ease, China said on Thursday that there are currently no ongoing negotiations with the United States on tariffs. China's strong attitude also affects the current trend of gold.
In addition, the data released by the United States today on the number of initial jobless claims in the United States for the week ending April 19 and the monthly rate of durable goods orders in March also directly guided the trend of gold.
Quaid believes that the current trend of gold is still in an upward stage; gold is still supported by many favorable factors, and the "gold bulls" may eventually break through the $3,500 mark firmly.
Quaid recommends the operation strategy:
3335 long, 3330 stop loss, and look up to 3380.
Every decisive decision is paving the way for account value-added. Every decisive decision paves the way for account appreciation. Trust your own judgment, and gold will crown you.
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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.