Gold fluctuates repeatedly in downward trend

Traders see a 64% chance of the Fed cutting interest rates in September, according to CME's FedWatch tool. Lower interest rates will make holding non-yielding gold more attractive. Data on Friday showed that U.S. job growth slowed more than expected in April, while year-on-year wage growth fell below 4.0% for the first time in nearly three years. New York Fed President Williams said on Monday that the Fed will lower its interest rate target at an undetermined point. Investors are paying close attention to the latest developments in the conflict in the Middle East. Palestinian militant group Hamas agreed on Monday to a Gaza ceasefire proposal put forward by mediators, but Israel said the conditions did not meet its demands and continued its strikes in Rafah while planning to continue negotiations to reach an agreement. The gold market continues to face significant upward pressure as it is used to protect wealth from devaluation as well as global geopolitical issues.

Gold technical analysis: Gold prices maintained an upward trend on Monday. In early trading, the price fell back to the 2291 line and rebounded. Asian, European and American markets continued to fluctuate and rise, reaching a maximum of 2332 and closing at 2324. The price fluctuates in the range of 2335-2277. Today, continue to focus on the upper resistance 2332-2338 and the lower support 2281-2277. The short defensive position is currently at the 2352 line. Only by breaking through and stabilizing the 2352 line can the end of this downward trend be confirmed.

In terms of gold's short-term operation today, it is recommended to go short on rebounds and long on callbacks. The upper short-term focus is on the first-line resistance of 2330-2332, and the lower short-term focus is on the 2281-2277 first-line support.

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Trade active:

Caution is required when trading. If you start in the right direction, it's only a matter of time before you become profitable. I analyze the market daily to bring you the best signals

Trade active:

Gold can now continue to be sold, and if you are still losing money on your trades, you can contact me directly to find a solution.

Trade active:

Gold can now continue to be sold, and if you are still losing money on your trades, you can contact me directly to find a solution.

Trade active:

Gold can now continue to be sold, and if you are still losing money on your trades, you can contact me directly to find a solution.

Trade active:

Caution is required when trading. If you start in the right direction, it's only a matter of time before you become profitable. I analyze the market daily to bring you the best signals

Trade active:

Caution is required when trading. If you start in the right direction, it's only a matter of time before you become profitable. I analyze the market daily to bring you the best signals

Trade active:

Caution is required when trading. If you start in the right direction, it's only a matter of time before you become profitable. I analyze the market daily to bring you the best signals

Trade active:

Caution is required when trading. If you start in the right direction, it's only a matter of time before you become profitable. I analyze the market daily to bring you the best signals

Trade active:

Caution is required when trading. If you start in the right direction, it's only a matter of time before you become profitable. I analyze the market daily to bring you the best signals

Trade active:

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