Gold prices start to rise again

Opening price 1773.44 Yesterday closing price 1775.46 Lowest price 1770.19 Highest price 1777.90

Gold prices start to rise again

In the past week, spot gold has shown a trend of rising and falling overall, because the new cases of the new crown epidemic in the United States have surged, market fears have increased, and the Fed Chairman Powell’s speech is biased towards doves. The minutes of the meeting released a signal to maintain monetary easing and gold prices Once broke the 1780 mark, refreshing the high of nearly half a year to 1789.28 US dollars per ounce; but a series of economic data released this week were optimistic, including non-agricultural data, global stock markets generally rose, limiting the rise in gold prices, and finally closed at 1775.32 US dollars Per ounce, a slight weekly increase of 0.23%.

Technical Analysis: Gold

This morning, gold opened at 1773.44 in early trading, showing an upward trend. After non-agricultural gold prices have basically maintained a trend of oscillating sideways. The trend is very insignificant. After the market opened today, it showed an upward trend, and it is currently at 1777.

Looking at the technical indicators on the 1-hour chart, the Bollinger Bands opened slightly after the extreme contraction of the market, and there is a sign that a new round of upward trend has started. It is possible that the European and American hours during the evening of this trading day will lead a wave of market prices. Given the fundamentals of the Chinese stock market and the US epidemic situation, the possibility of a rise is high.

In terms of MACD, the market is in a state of rest, with little kinetic energy, and DIF is close to the zero axis and is in a mode of finishing. At present, it is more likely to be stimulated by fundamentals, and it is necessary to pay attention to fundamentals and sudden information within a day.

Day Trade Strategy: Oscillation trend, see more at night.

Resistance: 1775 1780 1790
Support: 1770 1765 1760

Important information of the Day:

22:00 US ISM non-manufacturing PMI in June

Z.com Bullion Technical Analyst: Tony Liu