Market news:
Spot gold continued to be strong in the early Asian session on Friday (June 13), and is currently trading around $3,423 per ounce. London gold prices have risen for three consecutive days, fueled by geopolitical tensions in the Middle East and the Federal Reserve's interest rate cut bets caused by the cooling of US economic data. The global financial market is in a complex environment with multiple factors intertwined, and the attractiveness of international gold as a safe-haven asset has once again become prominent.Tensions in the Middle East have become an important catalyst for the rise in gold prices. The supporting role of geopolitical risks on gold prices cannot be underestimated. Historically, whenever there is a major conflict or escalation of tensions in the Middle East, gold has often become a safe haven for funds. At present, the confrontation between Iran and the United States and the potential conflict risks of regional military bases have provided solid momentum for gold prices to rise.In the short term, gold still has strong upside potential, especially driven by geopolitical risks and expectations of interest rate cuts. However, investors need to be wary of the risk of a correction that may be brought about by inflationary pressures and uncertainty in trade policies. For long-term investors, the value of gold as a safe-haven asset in a diversified investment portfolio cannot be ignored.
Technical review:
Technically, gold maintains a strong positive structure, and yesterday's sharp rise approached the 3400 mark. The daily chart still remains above the MA10/5-day moving average, and the RSI indicator is at the 50-value axis and turns upward, and the price is in the upper track of the Bollinger band. The short-term four-hour chart moving average system maintains a golden cross opening upward, and the price gradually moves up along the MA10-day moving average, and the price is running in the upper track of the Bollinger band channel. The technical side of gold continues to fluctuate upward, with low-multiple layout as the main idea and high-altitude auxiliary. The current market is strong. If it breaks through the high on Thursday, there will be a second chance of rising on Friday. In terms of operation, keep the idea of buying on pullback. Pay attention to the support near 3407 below in the short term, and pay attention to the resistance near 3438 above. It may fall back after a strong pressure of 3450;
Today's analysis:
The situation in the Middle East has escalated. Gold has risen again due to risk aversion, directly breaking through 3400. The risk aversion sentiment of gold has heated up, and there are signs of easing for the time being. Then the risk aversion sentiment of gold may increase, and gold is expected to continue to rise. Gold bulls have begun to take the lead again under the blessing of risk aversion. At present, gold buying is better, so continue to buy. The 1-hour moving average of gold has formed a golden cross upward buying arrangement. The buying power of gold is getting stronger and stronger, and it is unstoppable. The outbreak of risk aversion is completely an emotional catharsis. Only when the emotions are fully released, the strength of gold bulls will weaken. The decline of gold is buying. The Asian session of gold fell back to the 3400-line barrier to support low-price buying.
Operation ideas:
Buy short-term gold at 3410-3420, stop loss at 3395, target at 3430-3450;
Sell short-term gold at 3447-3450, stop loss at 3458, target at 3400-3380;
Key points:
First support level: 3407, second support level: 3392, third support level: 3378
First resistance level: 3438, second resistance level: 3450, third resistance level: 3473
Spot gold continued to be strong in the early Asian session on Friday (June 13), and is currently trading around $3,423 per ounce. London gold prices have risen for three consecutive days, fueled by geopolitical tensions in the Middle East and the Federal Reserve's interest rate cut bets caused by the cooling of US economic data. The global financial market is in a complex environment with multiple factors intertwined, and the attractiveness of international gold as a safe-haven asset has once again become prominent.Tensions in the Middle East have become an important catalyst for the rise in gold prices. The supporting role of geopolitical risks on gold prices cannot be underestimated. Historically, whenever there is a major conflict or escalation of tensions in the Middle East, gold has often become a safe haven for funds. At present, the confrontation between Iran and the United States and the potential conflict risks of regional military bases have provided solid momentum for gold prices to rise.In the short term, gold still has strong upside potential, especially driven by geopolitical risks and expectations of interest rate cuts. However, investors need to be wary of the risk of a correction that may be brought about by inflationary pressures and uncertainty in trade policies. For long-term investors, the value of gold as a safe-haven asset in a diversified investment portfolio cannot be ignored.
Technical review:
Technically, gold maintains a strong positive structure, and yesterday's sharp rise approached the 3400 mark. The daily chart still remains above the MA10/5-day moving average, and the RSI indicator is at the 50-value axis and turns upward, and the price is in the upper track of the Bollinger band. The short-term four-hour chart moving average system maintains a golden cross opening upward, and the price gradually moves up along the MA10-day moving average, and the price is running in the upper track of the Bollinger band channel. The technical side of gold continues to fluctuate upward, with low-multiple layout as the main idea and high-altitude auxiliary. The current market is strong. If it breaks through the high on Thursday, there will be a second chance of rising on Friday. In terms of operation, keep the idea of buying on pullback. Pay attention to the support near 3407 below in the short term, and pay attention to the resistance near 3438 above. It may fall back after a strong pressure of 3450;
Today's analysis:
The situation in the Middle East has escalated. Gold has risen again due to risk aversion, directly breaking through 3400. The risk aversion sentiment of gold has heated up, and there are signs of easing for the time being. Then the risk aversion sentiment of gold may increase, and gold is expected to continue to rise. Gold bulls have begun to take the lead again under the blessing of risk aversion. At present, gold buying is better, so continue to buy. The 1-hour moving average of gold has formed a golden cross upward buying arrangement. The buying power of gold is getting stronger and stronger, and it is unstoppable. The outbreak of risk aversion is completely an emotional catharsis. Only when the emotions are fully released, the strength of gold bulls will weaken. The decline of gold is buying. The Asian session of gold fell back to the 3400-line barrier to support low-price buying.
Operation ideas:
Buy short-term gold at 3410-3420, stop loss at 3395, target at 3430-3450;
Sell short-term gold at 3447-3450, stop loss at 3458, target at 3400-3380;
Key points:
First support level: 3407, second support level: 3392, third support level: 3378
First resistance level: 3438, second resistance level: 3450, third resistance level: 3473
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We share free trading signals of various products every day, with high accuracy and lucrative profits.
t.me/+dP7UVQKgmFQxNWQx
t.me/+dP7UVQKgmFQxNWQx
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.