Gold price opened slightly higher

Opening price 1763.52 Last closing price 1763.17 Lowest price 1762.21 Highest price 1766.09

Gold price opened slightly higher

Driven by safe-haven buying on June 25, the US dollar continued to strengthen as concerns about the sharp increase in the number of new crown cases in the United States intensified and the trade tensions between the United States and the European Union deteriorated. The price of gold has increased slightly, the number of new cases has surged, and bad news about the economy has continued to make investors nervous, boosting the need for gold to hedge. Oil prices rose more than 2% in volatile trading due to a slight improvement in the US economy and a moderate increase in fuel demand.

Technical Analysis: Gold

Today, gold opened at 1763.52 in early trading. After the market opened, it rose slightly, and prices remained consistent and tended to stabilize. The Bollinger Band track has gradually narrowed and stabilized. The price is in a slight oscillating range and is in the Bollinger Band orbital range. The Asian period is expected to be in a narrow range and slightly rising.

After the price dropped from the high of 1777 to the 1760 range, it was basically in a stage of steady and upward climb. The Asian session today is expected to be at the highest position of 1768-70. From the current situation, light positions are long.

MACD still hasn’t completely moved up from the downtrend, kinetic energy still shows a short market under the zero axis, the DIF line is below the zero axis, but there is a clear upward trend.

Day trade strategy: light long positions, pay attention to MACD’s DIF line running track.

Resistance: 1765 1770 1775
Support: 1760 1750 1745

Important information:

22:00 US June University of Michigan Consumer Confidence Index Final Value

Z.com Bullion Analyst: Tony Liu