U.S. stocks may cause gold price rise

On September 3, spot gold continued the previous trading day’s decline, as the US dollar index expanded the rebound momentum of the first two trading days, which was nearly 1.4% higher than the 28-month low hit earlier this week. But few analysts expect that the US rebound will last. The US epidemic has not yet been controlled, and the Fed’s end of the low interest rate environment is nowhere in sight. The high debt in the United States is even more worrying for conservative lawmakers, and future generations may face devastating consequences.

Technical analysis: non-agricultural layout

Fundamentals: Today’s non-agricultural pre-U.S. stocks have fallen sharply, and the fundamentals are likely to affect the price of gold. With the Trump election approaching and a series of positive guidance to stimulate the economy and employment, non-agricultural markets may have a higher probability this week. The possibility of a sharp rise, at the same time, the impact of the epidemic in North America has not yet been completely eliminated, pessimism affects the entire financial trading market, and also has a negative impact on gold. Under the dual guidance, non-agricultural companies may also reverse the price of gold this week. Since the beginning of this week, the price of gold has fallen, and non-agricultural-driven price changes will affect the price trend in a certain period of time in the future.

Basic strategy: Mainly bearish and make preventive stops.

Technical Analysis: Gold

The last trading day closed at 1931.50, a new low this week. Under the influence of fundamental information (US stocks), gold may rebound within a narrow range within the day. The day is mainly bullish, and the wet warehouse bearish strategy is adopted in the non-agricultural evening hours.

Important information:

20:30 After the seasonal adjustment of the non-agricultural employment population in the United States in August (10,000)

Z.com Bullion Analyst: Tony Liu