1. Core driving factors
Trump and the Fed's game intensifies market uncertainty
US President Trump repeatedly pressured the Fed this week to "cut interest rates immediately", while Powell emphasized the need to observe the long-term impact of tariffs on inflation before making a decision. The risk of political interference in the independence of the central bank has triggered market risk aversion, driving gold prices to fluctuate sharply (in the range of $3260-3500).
Trade situation is repeated
Trump's wavering statement on tariff policy has exacerbated market volatility: when tensions rise, gold prices rise; after the release of easing signals, bullish profit-taking leads to a decline.
2. Technical analysis
Daily level
Key support: $3260 (double bottom structure), if it is held, it will maintain a volatile and bullish pattern.
Yesterday's long lower shadow negative line showed strong buying at low levels and limited short-term downside space.
4-hour level
Triangle convergence pattern: The current price is supported by the trend line, and it is expected to test the $3370 pressure level after breaking through the middle track.
The Bollinger Bands narrowed and then opened again, and the MACD golden cross appeared, and the short-term bullish signal strengthened.
3. Trading strategy
Entry: Long at $3,305
Stop loss: $3,250 (guard against political black swans)
Target: $3,370 (up to $3,400-3,450 after a breakthrough)
4. Risk warning
If Trump further interferes with the Fed's personnel or the trade situation worsens, the gold price may break through $3,500;
If strong economic data weakens expectations of rate cuts, it may fall back to the $3,200 support.
Trump and the Fed's game intensifies market uncertainty
US President Trump repeatedly pressured the Fed this week to "cut interest rates immediately", while Powell emphasized the need to observe the long-term impact of tariffs on inflation before making a decision. The risk of political interference in the independence of the central bank has triggered market risk aversion, driving gold prices to fluctuate sharply (in the range of $3260-3500).
Trade situation is repeated
Trump's wavering statement on tariff policy has exacerbated market volatility: when tensions rise, gold prices rise; after the release of easing signals, bullish profit-taking leads to a decline.
2. Technical analysis
Daily level
Key support: $3260 (double bottom structure), if it is held, it will maintain a volatile and bullish pattern.
Yesterday's long lower shadow negative line showed strong buying at low levels and limited short-term downside space.
4-hour level
Triangle convergence pattern: The current price is supported by the trend line, and it is expected to test the $3370 pressure level after breaking through the middle track.
The Bollinger Bands narrowed and then opened again, and the MACD golden cross appeared, and the short-term bullish signal strengthened.
3. Trading strategy
Entry: Long at $3,305
Stop loss: $3,250 (guard against political black swans)
Target: $3,370 (up to $3,400-3,450 after a breakthrough)
4. Risk warning
If Trump further interferes with the Fed's personnel or the trade situation worsens, the gold price may break through $3,500;
If strong economic data weakens expectations of rate cuts, it may fall back to the $3,200 support.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.