Today, Monday, international gold prices are stabilising near $1520 / ounce, and gold prices continue to fine tune in the short term. Last week, the price of gold rose and the Fed cut interest rates by 25 basis points. The fact that trading was expected to bring short-term pressure on gold prices has been short-lived, but gold prices have rebounded since then. Many factors continue to support gold prices. Such as the prospect of further interest rate cuts by the Federal Reserve; Global trade concerns; Britain's hard to pull off the European outlook; geopolitical situation in the Middle East; and worries about slowing global economic growth.
This week (September 23rd -9 29) focuses on European and US manufacturing PMI, US August PCE price index, September Michigan consumer confidence and durable goods orders in August. The central bank, the New Zealand Federal Reserve will announce the September interest rate resolution, the Fed's hawkish interest rate cuts in September, the year's further interest rate cut expectations also need to pay attention to, after the sharp shock of international oil prices, the situation in the Middle East still needs to be concerned, in addition, Britain's progress in the negotiation of Europe and the international trade situation need to continue to pay attention.
In the early morning, international gold jumped to the bottom and did not continue to rise on Friday. According to this trend, it does not mean that gold is going to fall, but it is going to step back to confirm the effectiveness of the 1508 box support. Then it will continue to rebound to fill the gap, and the gold price in the early market will drop again after 1508. It will see that the target Friday's high position is 1517, and further it is 1524. The rebound pressure position can be emptied again. The international gold price is still a large interval shock process. The key point of operation is to maintain the key position and support the position.
On the technical side, the international gold day is still as big as Yang, so there is no market stimulus to get rid of the shade immediately under Dayang. Therefore, it is very conservative to fall down and do much more. The average daily line is near 1498, and the closing line is near 1486. The high position is 1538. Through the H4 cycle, the uptrend line is suppressed near 1520, while the early peak is near 1524. Therefore, the key point of the gold price is near 1524 today, and the central line has begun to be considered in the vicinity of 1524. For the short term, it is noteworthy that the early opening of the market will be 1516 high, which will be the high pressure of the Asian European market, with the support of the small cycle and low position at 1508 and the 1508 below.
