Gold has had a downward trend since 1988, closing yesterday's session at 1979. Currently, the conflict news no longer has much influence on the market.
With Powell's statement last week, the FED still has the ability to raise interest rates one more time, so investors have been cautious and worried about the possibility that the FED will continue to talk a lot about this, so they pushed DXY up again. . Therefore, Gold has been under selling pressure and is likely to decline further in the European session.
If gold does not break out of the 1970-1972 zone, you can consider buying TP in 1980, and beyond that is 1988. If gold breaks out of the 1970-1972 zone, it is likely that it will return to the expectation of selling TP in 1963 - 1965, 1956 today.
With Powell's statement last week, the FED still has the ability to raise interest rates one more time, so investors have been cautious and worried about the possibility that the FED will continue to talk a lot about this, so they pushed DXY up again. . Therefore, Gold has been under selling pressure and is likely to decline further in the European session.
If gold does not break out of the 1970-1972 zone, you can consider buying TP in 1980, and beyond that is 1988. If gold breaks out of the 1970-1972 zone, it is likely that it will return to the expectation of selling TP in 1963 - 1965, 1956 today.