Gold: The Upward Trend Unchanged?
Hello everyone! Today i want to share some trading analysis with you!
1.
$Gold - main 2506(GCmain)$ $XAU/USD(XAUUSD.FOREX)$ From a technical point of view, gold prices are expected to retest the all-time highs in the $3,160 area. On the daily chart, technical indicators are moving higher within positive levels with a clear bullish slope.
Meanwhile, gold prices have rallied above the bullish 20 simple moving average (SMA), which is currently around $3,044. Finally, the 100-day SMA and 200-day SMA continue to move steadily higher, well below the aforementioned short-term averages, in line with the dominant bullish trend.
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2.
Thursday (April 10) Asian morning trading, spot gold narrow range shock, currently trading at $ 3085 / ounce.
Spot gold on Wednesday staged a ‘violent pull up’, a single day soared more than 3% since March 2020, the largest increase, the plate pushed the 3100 U.S. dollar mark. Behind this epic market, is the Trump administration of Asian countries tariffs rose to 125% of the decision - the market panic index instantly burst the table, investors once frantically sell stocks and industrial commodities, gold pushed on the safe-haven throne.
Although the 90-day tariff moratorium allowed gold prices to fall back slightly to $3,082, but traders' fingers are still hanging on the buy button: the current price of gold from the beginning of the year has surged by $400, from the historical peak of $3,167 on 3 April is just one step away!
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