Market Analysis:
On Thursday (June 25th) during Asian trading hours, spot gold prices encountered a new wave of selling. Under multiple pressures including a continuously strengthening US dollar, rising expectations of a Federal Reserve interest rate hike, and easing geopolitical risks in the Middle East, London gold prices fell below the $4,000 mark, reaching their lowest level since November last year, temporarily dimming gold's safe-haven appeal.
With the changing market environment, the strong performance of international gold prices this year is facing a severe test. At the end of January this year, spot gold reached a record high of $5,600 per ounce. However, with the reversal of Federal Reserve policy expectations, the continued strengthening of the US dollar, and the cooling of safe-haven demand, gold prices have since continued to decline. Gold has fallen by more than $1,600 from its historical high, and before a clear change in the direction of Federal Reserve policy, gold is likely to remain in a weak and volatile pattern in the short term.
Technical Analysis: Gold's weekly chart shows a large bearish candle breaking below the 60-day moving average (MA60) at 4110, followed by a significant drop in volume. The daily chart maintains the expected consecutive bearish structure, with the 10-day and 7-day moving averages continuing their downward trend to 4175 and 4130 respectively. The price is gradually declining along the 5-day moving average, with highs and lows gradually decreasing. Gold continues to trade within the lower half of the Bollinger Bands on the daily chart, reaching a 26-year low of 3959. On the shorter-term 4-hour and hourly charts, after breaking below 3970, the RSI indicator showed an oversold signal, leading to a rebound. The focus today is on the strength of this rebound. The trading strategy remains primarily to sell at higher prices.
Strategy Recommendations:
Buy gold at 3900-3910, with a stop-loss at 3870, and a target of 3980-4000.
Sell gold at 4010-4020, with a stop-loss at 4050, and a target of 3900-3930.
On Thursday (June 25th) during Asian trading hours, spot gold prices encountered a new wave of selling. Under multiple pressures including a continuously strengthening US dollar, rising expectations of a Federal Reserve interest rate hike, and easing geopolitical risks in the Middle East, London gold prices fell below the $4,000 mark, reaching their lowest level since November last year, temporarily dimming gold's safe-haven appeal.
With the changing market environment, the strong performance of international gold prices this year is facing a severe test. At the end of January this year, spot gold reached a record high of $5,600 per ounce. However, with the reversal of Federal Reserve policy expectations, the continued strengthening of the US dollar, and the cooling of safe-haven demand, gold prices have since continued to decline. Gold has fallen by more than $1,600 from its historical high, and before a clear change in the direction of Federal Reserve policy, gold is likely to remain in a weak and volatile pattern in the short term.
Technical Analysis: Gold's weekly chart shows a large bearish candle breaking below the 60-day moving average (MA60) at 4110, followed by a significant drop in volume. The daily chart maintains the expected consecutive bearish structure, with the 10-day and 7-day moving averages continuing their downward trend to 4175 and 4130 respectively. The price is gradually declining along the 5-day moving average, with highs and lows gradually decreasing. Gold continues to trade within the lower half of the Bollinger Bands on the daily chart, reaching a 26-year low of 3959. On the shorter-term 4-hour and hourly charts, after breaking below 3970, the RSI indicator showed an oversold signal, leading to a rebound. The focus today is on the strength of this rebound. The trading strategy remains primarily to sell at higher prices.
Strategy Recommendations:
Buy gold at 3900-3910, with a stop-loss at 3870, and a target of 3980-4000.
Sell gold at 4010-4020, with a stop-loss at 4050, and a target of 3900-3930.
إخلاء المسؤولية
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.