8.20 Yellow Emperor midday outlook
Yesterday, gold prices surged to 4527, mainly driven by stimulus from the U.S. Treasury repo plan. The decline in long-term bond yields led to a weaker dollar, pushing gold to jump sharply.
Note that this is only liquidity adjustment, not QE. It cannot solve the problem of long-term debt. If yields rebound afterward, profit-taking from those who bought at high levels may quickly unwind, leading to a rapid pullback.
Geopolitical conditions remain volatile. Safe-haven demand continues to support gold, but a firmer oil price could lift inflation expectations again, which would suppress upside room.
After four hours of consecutive gains, price has entered high-range consolidation. Indicators have come off overbought levels, and near-term momentum has weakened. Avoid chasing at high levels; wait for a pullback and stabilization before considering entry.
Reference: pull back to 4465-4475 do, support at 4450, target 4510-4530#FOMC会议纪要 $XAU
Yesterday, gold prices surged to 4527, mainly driven by stimulus from the U.S. Treasury repo plan. The decline in long-term bond yields led to a weaker dollar, pushing gold to jump sharply.
Note that this is only liquidity adjustment, not QE. It cannot solve the problem of long-term debt. If yields rebound afterward, profit-taking from those who bought at high levels may quickly unwind, leading to a rapid pullback.
Geopolitical conditions remain volatile. Safe-haven demand continues to support gold, but a firmer oil price could lift inflation expectations again, which would suppress upside room.
After four hours of consecutive gains, price has entered high-range consolidation. Indicators have come off overbought levels, and near-term momentum has weakened. Avoid chasing at high levels; wait for a pullback and stabilization before considering entry.
Reference: pull back to 4465-4475 do, support at 4450, target 4510-4530#FOMC会议纪要 $XAU