GOLD: The Volatile and Weak Trend Now?
Hello everyone! Today i want to share some macro analysis with you!
1.
$Gold - main 2604(GCmain)$ Gold prices have recently shown a somewhat volatile and weakening trend, especially against the backdrop of a sharp rise in oil prices, leading to a tug-of-war between bulls and bears in the gold market.
The dramatic fluctuations in oil prices have also caused the US dollar and US Treasury yields to rise in tandem, becoming one of the main factors suppressing gold prices.
Nevertheless, due to geopolitical tensions in the Middle East, demand for gold as a safe-haven asset remains, supporting some of the upward momentum in gold prices.
Market focus is gradually shifting to oil price trends and the evolution of the Middle East situation, and gold prices are expected to continue to be influenced by these factors in the short term.
2.
Gold has been consolidating within a wide range recently, with a short-term breakout above the 5150 resistance level in the Asian market!
If the 5000 level holds, the Asian market strategy is to enter a buy position around 5120-25, with a target of 5170-75!
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