6.18 Will gold rise or fall?
In the geopolitical situation in the Middle East, Trump stated that "Iranian leaders will not be beheaded for the time being, but unconditional surrender is required", making the path of conflict escalation highly uncertain. At the same time, the unexpected strength of the US dollar index has put short-term pressure on gold, and the resilience of US consumption has become the core supporting factor.
The World Gold Council pointed out that 95% of central banks plan to increase their holdings of gold for long-term support, but the Federal Reserve's mouthpiece revealed that "if it were not for the tariff threat, it would have been ready to cut interest rates this week", highlighting the decision-making dilemma.
Multiple sources of information indicate that gold remains volatile in the game between risk aversion and a strong dollar.
The daily K-line closed at a cross K-line, and the long and short battles were fierce. However, the rebound after multiple bottoming out last night was still suppressed below 3405, which can be seen as a pressure point for short sellers. If 3405 is broken, the situation will change.
From the 4H analysis, the price continues to run around the middle and lower tracks, with a short-term support of 3375, and the intraday break can look at the 3350 mark.
It is currently a volatile market, but the overall trend is still rising, and you can go long at lows and short at highs.
BUY: Below 3380
SL: 3360
TP: 3395
SELL: 3398
SL: 3408
TP: 3375
Thank you for your attention. I hope my analysis can be helpful to you.
In the geopolitical situation in the Middle East, Trump stated that "Iranian leaders will not be beheaded for the time being, but unconditional surrender is required", making the path of conflict escalation highly uncertain. At the same time, the unexpected strength of the US dollar index has put short-term pressure on gold, and the resilience of US consumption has become the core supporting factor.
The World Gold Council pointed out that 95% of central banks plan to increase their holdings of gold for long-term support, but the Federal Reserve's mouthpiece revealed that "if it were not for the tariff threat, it would have been ready to cut interest rates this week", highlighting the decision-making dilemma.
Multiple sources of information indicate that gold remains volatile in the game between risk aversion and a strong dollar.
The daily K-line closed at a cross K-line, and the long and short battles were fierce. However, the rebound after multiple bottoming out last night was still suppressed below 3405, which can be seen as a pressure point for short sellers. If 3405 is broken, the situation will change.
From the 4H analysis, the price continues to run around the middle and lower tracks, with a short-term support of 3375, and the intraday break can look at the 3350 mark.
It is currently a volatile market, but the overall trend is still rising, and you can go long at lows and short at highs.
BUY: Below 3380
SL: 3360
TP: 3395
SELL: 3398
SL: 3408
TP: 3375
Thank you for your attention. I hope my analysis can be helpful to you.
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.
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.