#黄金突破1月下行趋势线 International precious metals market sees a strong rebound. London gold (XAU) and New York gold (GC) both rise by more than 0.6%, successfully breaking above the downward trendline from the past month.
This round of gains is mainly attributed to weak U.S. ADP employment data. Cooling expectations for Fed rate hikes have led to lower U.S. Treasury yields, thereby reducing the opportunity cost of holding gold.
Meanwhile, changes in the Middle East’s geopolitical situation are boosting safe-haven sentiment, and they are also triggering a tug-of-war over inflation expectations. Combined with concentrated entry from earlier CTA short covering, these factors collectively propel gold prices higher.
Judging by the price action, market sentiment is currently tilted to the positive side. In the short term, driven by a breakout above key technical levels and inflows of funds, gold prices still have momentum to move higher📈.
As the $4,300 level approaches, the battle between bulls and bears will intensify, and investors should be alert to the risk of short-term profit-taking unwinds.
Looking from the medium to long term, against the backdrop of central banks worldwide continuing to purchase gold and macro uncertainty still persisting, the allocation value of gold as a safe-haven asset remains solid. Overall, the market will likely maintain a sideways-to-bullish bias📈.
$XAU
$XAG
This round of gains is mainly attributed to weak U.S. ADP employment data. Cooling expectations for Fed rate hikes have led to lower U.S. Treasury yields, thereby reducing the opportunity cost of holding gold.
Meanwhile, changes in the Middle East’s geopolitical situation are boosting safe-haven sentiment, and they are also triggering a tug-of-war over inflation expectations. Combined with concentrated entry from earlier CTA short covering, these factors collectively propel gold prices higher.
Judging by the price action, market sentiment is currently tilted to the positive side. In the short term, driven by a breakout above key technical levels and inflows of funds, gold prices still have momentum to move higher📈.
As the $4,300 level approaches, the battle between bulls and bears will intensify, and investors should be alert to the risk of short-term profit-taking unwinds.
Looking from the medium to long term, against the backdrop of central banks worldwide continuing to purchase gold and macro uncertainty still persisting, the allocation value of gold as a safe-haven asset remains solid. Overall, the market will likely maintain a sideways-to-bullish bias📈.
$XAU
$XAG