8.26 Morning Gold Outlook:
After gold was pressured around 4696 yesterday, it pulled back to the vicinity of 4606. At this stage, the market is entering a short-term consolidation range.
In the evening, the key focus will be the PCE inflation data: if the data cools, it will be supportive for gold; if inflation rises, it will weigh on gold. This release is likely to slightly lift or at least match market expectations.
The Iran-Iraq ceasefire has driven crude oil lower. Inflation expectations and tariffs are positive for gold;
With expectations of a rebound in crude oil and the U.S. dollar index, silver’s upside is relatively weak. Gold will most likely keep oscillating, so avoid chasing long positions.
For the short term, maintain a slightly bearish mindset. In a choppy market, strictly manage position sizing; when entering, make sure to set a stop-loss.
Trading suggestion:
Sell on rebounds in the 4655-4665 range. Targets: 4620-4580. Defense level: 4675
#XAu
After gold was pressured around 4696 yesterday, it pulled back to the vicinity of 4606. At this stage, the market is entering a short-term consolidation range.
In the evening, the key focus will be the PCE inflation data: if the data cools, it will be supportive for gold; if inflation rises, it will weigh on gold. This release is likely to slightly lift or at least match market expectations.
The Iran-Iraq ceasefire has driven crude oil lower. Inflation expectations and tariffs are positive for gold;
With expectations of a rebound in crude oil and the U.S. dollar index, silver’s upside is relatively weak. Gold will most likely keep oscillating, so avoid chasing long positions.
For the short term, maintain a slightly bearish mindset. In a choppy market, strictly manage position sizing; when entering, make sure to set a stop-loss.
Trading suggestion:
Sell on rebounds in the 4655-4665 range. Targets: 4620-4580. Defense level: 4675
#XAu