Sharp drop stabilizes—has the bullish opportunity arrived for $XAU ?
Looking at the market, XAU fell steadily to 4081 last night before finding support and stabilizing. Bulls then mounted a strong comeback, and the price is now nearing the 4200 level, where bulls and bears are locked in a repeated tug-of-war. On the fund flow front, gold ETFs continue to attract inflows: ChinaAMC Gold ETF (518850) has recorded net inflows of over 1 billion for eight consecutive trading days, while HuaAn Gold ETF (518880) has seen net inflows of over 2 billion for five consecutive days. Institutions are treating pullbacks as buying opportunities!
More importantly, China’s central bank has increased its gold holdings for 23 consecutive months. A World Gold Council survey shows that a record 45% of central banks plan to keep adding to their reserves over the next year, while 89% expect global central bank gold reserves to continue rising. This demand for gold as a reserve asset provides a long-term floor for prices that will be difficult to break through!
Based on the above, my trading plan is as follows: enter a long position at 4185, with a target of 4230–4250 and a stop-loss at 4140.
【The views above are for personal reference only and do not constitute investment advice】
#美国9月PPI年率升至6.3%
Looking at the market, XAU fell steadily to 4081 last night before finding support and stabilizing. Bulls then mounted a strong comeback, and the price is now nearing the 4200 level, where bulls and bears are locked in a repeated tug-of-war. On the fund flow front, gold ETFs continue to attract inflows: ChinaAMC Gold ETF (518850) has recorded net inflows of over 1 billion for eight consecutive trading days, while HuaAn Gold ETF (518880) has seen net inflows of over 2 billion for five consecutive days. Institutions are treating pullbacks as buying opportunities!
More importantly, China’s central bank has increased its gold holdings for 23 consecutive months. A World Gold Council survey shows that a record 45% of central banks plan to keep adding to their reserves over the next year, while 89% expect global central bank gold reserves to continue rising. This demand for gold as a reserve asset provides a long-term floor for prices that will be difficult to break through!
Based on the above, my trading plan is as follows: enter a long position at 4185, with a target of 4230–4250 and a stop-loss at 4140.
【The views above are for personal reference only and do not constitute investment advice】
#美国9月PPI年率升至6.3%