Opening price 1701.04 Last closing price 1700.07 Lowest price 1700.08 Highest price 1707.21
This week, spot gold mainly showed a high volatility trend. Market expectations for US employment data were poor. For the first time in the history of interest rate futures, the Fed expects that the Fed will fall to negative interest rates. The gold price once rose to 1722.07. It is expected that, and Liu He, the Chinese leader of the China-US Comprehensive Economic Dialogue, will call US Trade Representative Lighthizer and Treasury Secretary Mnuchin at the request. The market has cooled international concerns, and the price of gold has finally dropped to around the 1700 mark; The line rose 0.22%.
Technical Analysis: Gold
Affected by the non-agricultural data last Friday, the decline of gold high, from more than 1720 to 1700 integers, today Asian opened at 1701.04 in early trading, currently in an upward trend, at 1706.
At present, the price is generally at a low position, and it is difficult to climb upward from the offline Bollinger Band track. During the day, we paid attention to the position of the price breaking through the middle rail and the subsequent trend. Because of the downward trend inertia caused by non-agricultural. The market is currently not optimistic about the match. On MACD, the DIF line probe is downward, and the kinetic energy is below the zero axis. In Europe and the United States, it is necessary to pay attention to whether it crosses the zero-axis position.
Day trade strategy: volatile market trading, buying and selling within and below the Bollinger Bands.
Resistance: 1710 1715 1720
Support: 1700 1695 1690
Z.com Bullion Analyst: Tony Liu