8.21 morning outlook
Triggered by stimulus from US Treasury repo news, gold surged to a high of 4540.81. Overnight, the yield on the 30-year US Treasuries rose again; concerns emerged about the effectiveness of policy measures. The dollar strengthened, putting pressure on gold.
Geopolitically, the US has intensified sanctions against Iran, strengthening oil prices. Developments in the Middle East provide a risk-off support, but oil also lifts inflation expectations, which suppresses the upward momentum. At present, this is more of a pulse-style safe-haven move, making it difficult to achieve a one-way rally.
On the daily chart, price is consolidating in a high range. Moving averages remain in a bullish alignment, and the MACD continues with red histogram bars. 4510–4518 is the short-term line that determines strength/weakness. If it holds, the uptrend continues; if it breaks, a deeper pullback is likely.
Reference: consider buying the dip at 4480–4500, with defense at 4465. Targets: 4530–4550–4570#FOMC会议纪要 $XAU
Triggered by stimulus from US Treasury repo news, gold surged to a high of 4540.81. Overnight, the yield on the 30-year US Treasuries rose again; concerns emerged about the effectiveness of policy measures. The dollar strengthened, putting pressure on gold.
Geopolitically, the US has intensified sanctions against Iran, strengthening oil prices. Developments in the Middle East provide a risk-off support, but oil also lifts inflation expectations, which suppresses the upward momentum. At present, this is more of a pulse-style safe-haven move, making it difficult to achieve a one-way rally.
On the daily chart, price is consolidating in a high range. Moving averages remain in a bullish alignment, and the MACD continues with red histogram bars. 4510–4518 is the short-term line that determines strength/weakness. If it holds, the uptrend continues; if it breaks, a deeper pullback is likely.
Reference: consider buying the dip at 4480–4500, with defense at 4465. Targets: 4530–4550–4570#FOMC会议纪要 $XAU