Gold rebounded to the resistance level
When gold rebounded to resistance, it was often difficult for the price to break through this level. The resistance level referred to the place where the bears were strong and the bulls were weak in gold investment. The common situations where resistance levels were formed were as follows: 1. The index opened lower than the previous close and would encounter resistance in the process of rising. This was because after a night of thinking, both long and short sides reached a consensus on the previous closing price. At the opening of the day, there would be a previous closing price to participate in the bidding transaction. If the index opened lower, it meant that the selling intention was stronger. When the index rebounded, on the one hand, it would be hit by new selling orders at any time. On the other hand, when it was close to the previous close, the selling orders accumulated in the morning would play a role, making it difficult for the bulls to cross this price. 2. After the opening of the day, it went down. Due to the accumulation of a large number of selling orders at the opening price during the bidding, there would be resistance when it rebounded back here. 3. Due to the obvious selling at the previous high point, when the index fell back again, once it approached the previous high point, there would be new short-selling forces involved, and the bulls would become cautious. They often formed an M-head shape on the chart, and most of the time, the high on the right would be lower than the high on the left. 4. Some round numbers often became an important resistance to the rise. In addition, technical analysis was one of the common methods to determine the golden resistance level. For example, the intersection of the short-term moving average (such as 5 days, 10 days) and the long-term moving average (such as 50 days, 200 days) could often be used as an important reference. When the short-term moving average crosses the long-term moving average, it may form a resistance level. When the gold price tested resistance levels such as 2520 - 2530 USD and 2,394.00 USD/ounce, the price trend was affected by factors such as the rise of geographical tension and the strong demand for precious metals. Read more exciting novels for free
The gold plate rebounded.
The rebound of the gold plate was affected by many factors. From the available data, such as August 23,2024, spot gold rebounded in a narrow range. At that time, gold prices were suppressed by the rebound of the dollar and the rise in treasury bond yield. At the same time, traders were looking forward to the speech of the Federal Reserve Chairman to provide clues to cut interest rates. For example, in the early Asian market on October 14,2024, spot gold rebounded after the shock weakened. Although the U.S. inflation data consolidated the prospect of next month's interest rate cut, the Producer Price Index data hinted that the outlook for inflation was favorable to raise the Federal Reserve's interest rate cut expectations in November, and the Middle East's geographical tension triggered a demand for safe haven to boost gold, the continued rebound of the dollar index made gold bulls hesitate. In general, factors such as the US dollar index, treasury bond yield, Federal Reserve policy expectations, and political tension would all have an impact on the rebound of the gold market. <a href="/?from=ask_words" style="color:red" target="_blank">Read more exciting novels for free</a>
Gold rebounded unexpectedly
The rebound in the price of gold was affected by many factors and sometimes appeared unexpected. From the perspective of macro economic data, such as the US producer price index (SPD) in September, this kind of data is beneficial to the gold bull market and may push the gold price to rebound, because this data supports the view of the Federal Reserve to cut interest rates, thus having a positive impact on the gold price. In terms of geographical factors, the tension in the Middle East had a greater impact on the price of gold. For example, the conflict between Israel and southern Lebanon, Israel's air strike plan against iran, etc. These events would stimulate the market's demand for safe havens, making gold more attractive as a safe haven asset and pushing its price to rebound. From a technical point of view, the factors that prompted gold to rebound could also be found in some indicator charts. For example, in the 60-minute chart, the gold price is trading in the rising channel, and the 14-hour relative strength index (RSI) supports the bullishness. The performance of these technical indicators may also lead to a rebound in the gold price. However, the gold price trend was also faced with a variety of uncertain factors. Under the combined effect of a variety of factors, its rebound was sometimes difficult to completely predict, which made it appear unexpected. <a href="/?from=ask_words" style="color:red" target="_blank">Read more exciting novels for free</a>
Gold futures prices rebounded
According to the information provided, the price of gold futures had fallen. For example, the New York Mercantile Exchange on October 25 showed that the price of gold futures in New York was 2740.46 -8.44 -0.307% per ounce (Today's opening:2748.60 Yesterday's closing:2748.90 Today's highest:2748.60 Today's lowest:2736.50), which indicated that the price had declined. The international gold price had also plummeted in the early hours of October 24th. Although the price of gold had risen and reached a historical high, it has recently shown a downward trend, which may imply that its price rebound is blocked and may be affected by factors such as profit-taking.(For example, gold futures fell by 0.3% on October 25 to $2,740.40 per ounce, which fell sharply after hitting a peak on Wednesday), but based on current information alone, it could not be determined that the rebound was blocked, or it could be a normal price fluctuation adjustment. More time and data were needed for further observation. <a href="/?from=ask_words" style="color:red" target="_blank">Read more exciting novels for free</a>
Gold prices rebounded slightly in the afternoon
On November 7th (Thursday), the US dollar weakened, and international gold prices rebounded from their low in the past three weeks. New York's December gold futures price closed at 2705.8 US dollars per ounce, up 1.10%. COMEX gold futures rose 1.41% to 2714 US dollars per ounce. The day before, on November 6, London gold spot fell 3.09% to 2658.90 USD/ounce, while COMEX gold futures fell 2.97% to 2668.0 USD/ounce. The rebound in gold prices may be related to the weakening of the dollar. In the long run, the high debt burden of the U.S. government is difficult to change in the short term. With the support of central banks buying gold, the attractiveness of the gold market will be further enhanced, but the short-term correction will not change the upward trend. However, the price of gold is also affected by many factors. For example, the price fluctuation before and after the U.S. election will basically intensify. Under the background that the international gold price has hit a record high many times this year, facing the time point of "boots landing", many funds will choose to take profits; China's central bank has suspended its increase in gold for six consecutive months; The positive effect of the conflict between Israel and Israel is weakening; The expectation of the Federal Reserve to cut interest rates will affect the gold price trend. <a href="/?from=ask_words" style="color:red" target="_blank">Read more exciting novels for free</a>
Gold once rebounded and broke through 1270
On December 26,2018, spot gold hit a high of $1,277.27 per ounce in the U.S. market. After a brief decline at the opening, the V-shaped rebound broke through $1270 per ounce. At that time, the dollar's decline, concerns about the US political situation (such as the government's closure), and anxiety about the global economic growth slowed down, pushed investors into the safe haven gold, causing the gold price to rebound above $1270 per ounce. In addition, on April 24,2019, spot gold rebounded slightly on Wednesday. The highest price in the U.S. market was above 1274.70 USD/ounce, holding above the 1270 mark. At that time, although the US dollar continued to rise and the high market risk sentiment had an impact on the gold price, the gold price still fluctuated and broke through the 1270 mark after falling. <a href="/?from=ask_words" style="color:red" target="_blank">Read more exciting novels for free</a>
Gold stocks hit the bottom and rebounded
According to the information provided, gold stocks had hit the bottom and rebounded. For example, gold stocks had rebounded many times in 2024. For example, on May 31, due to the release of a series of economic data in the United States, the further easing of economic inflation caused the Federal Reserve to raise interest rate cuts, and the low gold price recovered. After the opening of the day, the gold stock sector that led the decline yesterday hit the bottom and rebounded. Huayu Mining rose by nearly 5%, while Yintai Gold, Zhaojin Mining and Zhou Dafu strengthened one after another. On September 16, gold stocks continued to rebound. China Silver Group, Lingbao Gold, China Gold International, Zhaojin Mining, Shandong Gold, etc. all rose to varying degrees. The news was that gold prices had recently reached a new high. The main December contract of New York Mercantile Exchange gold futures broke through the 2600 USD/ounce mark and reached a new high since its listing. goldman sachs maintained its target price of 2700 USD per ounce at the beginning of 2025. As the Federal Reserve prepared to cut interest rates, The influx of asset management institutions will drive the rise of precious metals, and the demand of central banks will provide support. In addition, on June 28, Lingbao Gold, Zhaojin Mining, Zijin Mining, Shandong Gold and other gold stocks also rebounded. At the same time, the coal stocks mentioned on December 18,2017 led the market industry sector on that day. Some coal stocks such as Lu 'an Huaneng, Shanxi Coking, and Shaanxi Black Cat rose to the limit. At that time, coal related price data showed that there was a certain upward trend to promote the performance of coal stocks. This could also be seen as a situation where coal gold stocks hit the bottom and rebounded (if the blue chip stocks in the coal sector were regarded as gold stocks). The August gold stocks and other recommended stocks of the broker did not clearly reflect the bottom rebound, but it could be speculated that if the market environment and other factors were good, these gold stocks might also bottom out and rebound. Overall, the rebound of gold stocks was affected by a combination of factors, including macro economic data, the industry's own supply and demand and price situation, market expectations, etc. <a href="/?from=ask_words" style="color:red" target="_blank">Read more exciting novels for free</a>
Gold demand in China and India rebounded
At present, there is not enough information to indicate that the demand for gold in China and India has rebounded. After August 2024, the two pillars of China's gold demand, central bank purchases and private demand, began to weaken. In September, India's private gold demand also began to cool down significantly. The premium price of physical gold rose, indicating that the market's enthusiasm for gold was fading. <a href="/?from=ask_words" style="color:red" target="_blank">Read more exciting novels for free</a>
The weakness of gold does not change and it rebounded
Judging from the recent trend of gold, gold was at a high level and kept hitting new heights. It was not weak. For example, on October 21, spot gold rose after opening and continued to hit an all-time high of 2723 US dollars per ounce; on October 22, it reached a high of 2740, and on October 23, it also surged to 2752. The overall trend was rising. This situation was not suitable for the operation strategy of "gold weakness does not change and rebound empty". <a href="/?from=ask_words" style="color:red" target="_blank">Read more exciting novels for free</a>
China's gold rebounded quickly on March 8
On March 8, China's gold market rebounded rapidly, rising by more than 2% within five minutes. As of 9:35 on the same day, it was reported at 13.37 yuan, with a turnover of 27.1659 million yuan and a turnover rate of 0.25%. During the rebound, there were corresponding trading offers and transactions. <a href="/?from=ask_words" style="color:red" target="_blank">Read more exciting novels for free</a>
Today, BTL rebounded at a low level.
According to the information provided, after several drops, bitcoin briefly fell below $66,000 on October 24th, and the lowest point fell to around $65,300. On October 25th, the bitcoin spot fund had a daily influx of $41.83 million, which may be a sign of its low rebound. In addition, there was a view that the price trend of bitcoin in 2024 reflected the trend in 2020, and there might be a parabolic rebound in 2024. The current low rebound might also be in line with this expectation, but there was also a view that the rebound after halving in 2024 had not yet begun, and the current situation needed to be further observed by integrating more factors. <a href="/?from=ask_words" style="color:red" target="_blank">Read more exciting novels for free</a>