Opening price 1768.21 Yesterday closing price 1767.95 Lowest price 1765.93 Highest price 1770.42
Gold price reaches eight-year high
On June 23, the dollar fell for the second day in a row. Economic data showed that the economy of the United States and the euro area has improved, and the United States may increase anti-epidemic stimulus expectations to boost risk appetite. Spot gold hit a new high of US$1771.14 per ounce since October 2012. Due to the weakening of the US dollar, as the new crown epidemic hit the economic outlook, this stimulated the demand for safe-haven gold. Oil prices have fallen sharply from their three-month highs, and the EIA report is expected to show that crude oil inventories will increase again, suggesting that the market is still struggling to digest a large supply glut.
Technical Analysis: Gold
At night, European and American gold showed a clear upward trend, with the highest position above 1770, reaching an eight-year high. Asian trading today opened at 1768.21 and is currently at 1768.01, showing a correction trend.
The upward trend led to a greater opening of the forest belt, but the price has already run below the upper trajectory, and it has dropped slightly after opening in the morning. The price will not change much during the Asian session, and the main vigilant callback will trigger a downward trend during the day. Mainly look at the trend of the price falling below the continuous movement of the middle track.
Day trade strategy: Consolidate the trend and light the short position.
Resistance: 1770 1775 1790
Support: 1760 1755 1750
Z.com Bullion Analyst: Tony Liu