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Precious metals gold trading market

2026-08-20 05:28
2026-08-20 07:36

Recently, the price of gold has been strong and has entered a period of shock. On October 25th, the spot gold in the Asian market fluctuated at a high level, trading around 2728. On Thursday, it rose nearly 1% to close at 2735, close to an all-time high. The demand for safe haven brought about by political concerns boosted the price of gold. At the same time, the rise of the US dollar temporarily stopped, and the yield of 10-year US Treasury bonds fell. This trading day needs to focus on the initial monthly rate of durable goods orders in the United States in September, as well as the geographical situation, the US election, and the market's expectations for the Federal Reserve to cut interest rates. From the perspective of the market, yesterday's high consolidation showed the strength of the bulls. Although it was under pressure at 2750 and operated below 2740, as long as 2685 did not break, it was regarded as a correction. On the daily line structure, yesterday's positive line with the shadow line, the price closed below 2740, the short-term upward momentum of the bulls slowed down, but because the price is stable above the cycle average, the decline is not expected to be big. Tonight, the final value data of the University of Michelle's consumer confidence index in October is crucial. Before that, the daily line needs to be cautious. In the 4-hour period, the price retreated to the short-term moving average yesterday. The MCD indicator maintained the downward shape of the dead cross, but other cycle indicators maintained a long position. There may be room for a correction, but it is also necessary to prevent the correction from ending. The operation idea suggested that the sky should be dominated during the day, and the support below should pay attention to the 2715 - 2718 area first, followed by the 2710 - 2707 area. The former was the support effect of the opening point yesterday, and the lower break would increase the probability of the market weakening but it was considered as a short-term, while the latter was the dividing line of the day. The upper resistance first paid attention to yesterday's high 2743 area, but tried to empty it, focusing on 2758 area. If there was no major good news (risk aversion caused by the geographical situation), it was expected that the gold price would withdraw and adjust its strength. In general, the Federal Reserve's interest rate cut is expected to attract more investors into the gold market, and the tense geographical environment is expected to keep gold popular, but factors such as a sharp drop in central bank demand for gold and an increase in the possibility of market profit-taking may also worsen gold's performance. The novel "Gilded Palm" is equally exciting. Everyone is welcome to click and read it!

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