Trusted by over 15 Million Traders
The Most Awarded Broker
for a Reason
CATEGORIES
News
- The United States and the European Union are expected to reach a tariff agreemen
- The double bottom pattern of GBP/USD is worrying, but the bearish outlook has no
- The US dollar index range fluctuates, focusing on Jackson Hole annual meeting
- The daily gold line of Dayang is above the 10 moving average, and it continues t
- Expectations of interest rate cuts in September are solid! The US dollar is test
market news
Can gold’s rise continue? Follow this event
Wonderful introduction:
A secluded path, with its twists and turns, will always arouse a refreshing yearning; a huge wave will make a thrilling sound when the tide rises and falls; a story, regretful and sad, only has the desolation of the heart; a life, with ups and downs, becomes shockingly heroic.
Hello everyone, today XM Forex will bring you "[XM Official Website]: Can the gold rise continue? Pay attention to this event." Hope this helps you! The original content is as follows:
At the beginning of this week, the gold price performed strongly. In the two-day period, the international gold price rose by more than 150 points, and the domestic gold price reached a maximum of 950 yuan. This wave of increase came very rapidly. Many people may not have reacted before a strong wave of rise appeared.
In fact, this wave of rise is still digesting the impact of the U.S. authorities’ imminent end of the shutdown in advance. After all, at the beginning of last month, affected by the shutdown, the market’s risk aversion increased, driving up the price of gold. Ending the shutdown will also have a guiding effect on the market.
On the surface, the end of the shutdown means that the crisis has eased. In this situation, it is usually good for the US dollar and bad for gold. In fact, the two trends are xmxyly.completely opposite. This is not only about the superficial status quo, but also about understanding the logic behind the incident.
On the surface, the shutdown is just a furlough for nearly 600,000 employees, which affects the unemployment rate. In fact, during the shutdown, finance and taxation are normal, and this part of the funds is also "stopped". After normal operations are resumed, these funds will quickly enter the market through various methods, thereby providing sufficient liquidity to the market. Not only gold, silver, stock markets, bond markets and the US dollar will rise, then you can understand the changes in trends among various categories in the past two days!
The latest news shows that the U.S. authorities may "reopen the door" as early as Wednesday, which means that various previously accumulated data will be released in a centralized manner, especially non-agricultural and inflation data, which are particularly critical.
Logically, September’s non-agricultural data should be released first, followed by October’s data. Reports show that U.S. xmxyly.companies laid off 153,000 people in October, setting a new record for the same period since 2003.If this is actually the case, it would be a bit exaggerated.
However, there is also news that it is precisely because of such a large deviation that October's non-agricultural data may not be released. During the period of knowing the king, this kind of unreasonable behavior has not never happened, so the market, as well as the Federal Reserve, must be prepared accordingly.
In anticipation of what will happen next, we also need to take precautions.
The price of gold rose strongly on Monday, and extended further yesterday. Even if it remained high and sideways for a long time, it did not form another breakthrough. The pressure in the 4147-4150 area was effective. It fell under pressure yesterday evening and fell below the 4100 mark, and then rebounded. Obviously, the xmxyly.competition for long space is very fierce.
Yesterday, we clearly stated in the video that there is insufficient momentum for the price to break through again. We will not chase it at a high level and beware of retracement adjustments. The same idea remains unchanged during today's daytime period because the market has digested the upcoming events in advance in the past two days, and then just waits for the landing.
Actually speaking, the strong rise during the Monday period exceeded expectations in terms of strength and space. It maintained a high level for a long time yesterday, and it seemed that it was about to break through, but in fact it could not go up. At present, it is tempting to buy. This morning, I agreed. Most people's thinking was to fall back and go long, but it turned around and fell back again.
We defined the current trend as a large-scale range oscillation last week, and it is not a continued extension of the trend. Therefore, the trading method is to sell high and buy low, rather than chasing the rise and killing the fall.
At the same time, the rise at the beginning of the week is also driven by some emotions. Once the emotions subside with the understanding of profit taking, a retracement is natural. Don't look at the fluctuations in the short term. There is a lot of actual room. This requires you to see the nature of the market clearly and not blindly follow the trend.
The current gold price is retracing, and the main support below is the 4100 area. It is also possible to maintain this level during the white trading period or use this stop loss point to intervene in the bullish trend. If it breaks down, a short-term retracement does not rule out seeking support in the 4060-4050 lower area. In short, the rebound trend in the past two days and the maintenance of high operation are to induce bullishness. In reality, this is true. However, under the background of unchanged upward development in the mid-term, it is safer to wait for the price to fall back and enter the market at a strong price.
(The above sharing is purely personal opinion and does not constitute actual operation advice. Financial management is risky, and you must be responsible for profits and losses)


The above content is all about "[XM official website]: Can the gold rise continue? Pay attention to this event". It is carefully xmxyly.compiled and edited by the XM foreign exchange editor. I hope it will be helpful to your trading! Thanks for the support!
After doing something, there will always be experiences and lessons learned. To facilitate future work,The experience and lessons from previous work must be analyzed, researched, summarized, concentrated, and understood at a theoretical level.
Disclaimers: XM Group only provides execution services and access permissions for online trading platforms, and allows individuals to view and/or use the website or the content provided on the website, but has no intention of making any changes or extensions, nor will it change or extend its services and access permissions. All access and usage permissions will be subject to the following terms and conditions: (i) Terms and conditions; (ii) Risk warning; And (iii) a complete disclaimer. Please note that all information provided on the website is for general informational purposes only. In addition, the content of all XM online trading platforms does not constitute, and cannot be used for any unauthorized financial market trading invitations and/or invitations. Financial market transactions pose significant risks to your investment capital.
All materials published on online trading platforms are only intended for educational/informational purposes and do not include or should be considered for financial, investment tax, or trading related consulting and advice, or transaction price records, or any financial product or non invitation related trading offers or invitations.
All content provided by XM and third-party suppliers on this website, including opinions, news, research, analysis, prices, other information, and third-party website links, remains unchanged and is provided as general market commentary rather than investment advice. All materials published on online trading platforms are only for educational/informational purposes and do not include or should be considered as applicable to financial, investment tax, or trading related advice and recommendations, or transaction price records, or any financial product or non invitation related financial offers or invitations. Please ensure that you have read and fully understood the information on XM's non independent investment research tips and risk warnings. For more details, please click here