Opening price 1979.53 Yesterday closing price 1975.16 Lowest price 1969.50 Highest price 1987.95
Gold prices hit a new high
This week (August 3rd to August 9th), the market ushered in the minutes of the Reserve Bank of Australia and the Bank of England’s interest rate resolution and monetary policy meeting, as well as trade data from China, the United States and other countries. It will be the finale on August 7; in terms of fundamental news, the global trade situation and some geopolitical situations still need to be focused, and news related to the epidemic also needs to continue to be watched.
Technical Analysis: Gold
Continuing the overall bullish market last week, the market opened at a high of 1979.53 this Monday. After the market opened, it showed a slight downward trend, and it is currently at 1972.68.
On the 1-hour chart, the Bollinger Bands are currently shrinking smoothly, the price is located on the middle trajectory, and the market is in a stable consolidation stage with no obvious signs of trend start. Judging from the overall trajectory after the market opened today, the price will be in a sideways situation this trading day. In the day, the main focus is on fundamental information and the breakthrough of signals during the European and American periods.
Day trade strategy: The market is in a sideways trading range, long and short trading within the Bollinger Band orbit.
Resistance: 1980 1985 1987
Support: 1970 1965 1962
Important information of the week: Friday 20:30 after the seasonal adjustment of the non-agricultural employment population in July in the United States (10,000)
Z.com Bullion Analyst: Tony LIU