Technical analysis of short-term gold operations

24 Nis

Gold rebounded to $3,339 and fell back after encountering resistance. It accelerated its decline after the opening of the U.S. market. After falling to $3,260 and stabilizing, gold began to rebound, and was still suppressed by the integer of $3,300 until the closing. Gold broke upward at the opening of Thursday, rising to $3,367, and fell back to $3,314 after encountering resistance and stabilizing. It is currently trading at $3,337. Overall, gold further retreated to $3,260 to stabilize, and rebounded to $3,367 and encountered resistance, which is basically consistent with the lower space of $3,250 and the upper space of $3,385 given by us.

Gold rebounded after hitting a new low in a week on Wednesday, mainly because Bessant said that tariff negotiations will not start soon and will be conducted at the current trade level between China and the United States. Trump did not propose unilateral reductions in tariffs on Chinese imports and denied any upcoming tax cuts, which increased uncertainty and caused some safe-haven funds to flow back into the gold market.

24 Nis

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