EUR/USD 1.07868
-0.057%
Gold 3133.01
0.605%
Oil 70.864
-0.008%
USD/JPY 149.874
0.180%
GBP/USD 1.29088
-0.101%
GBP/JPY 193.469
0.095%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Hong Kong-listed Laopu Gold (06181.HK) fell nearly 4%. On the news front, the company plans to implement full circulation of H shares and has applied to the Hong Kong Stock Exchange Listing Committee for approval to list and trade H shares converted from 40,388,900 unlisted shares held by three shareholders of the company.Bank of Japan Governor Kazuo Ueda: As fiscal leaders gather at the IMF and G20 meetings later this month, we are likely to get more information on U.S. tariff policy, so there is a high potential for sharing views and discussing response measures among policymakers.On April 2, CITIC Prudential Commodity LOF issued a premium risk warning. As of April 1, the closing price of the fund in the secondary market was 0.941 yuan, and the transaction price showed a large premium, reminding investors to pay attention to premium risks. CITIC Prudential Commodity LOF mainly invests in commodity-related assets such as precious metals and crude oil, accounting for about 92% of the fund allocation.Bank of Japan Governor Kazuo Ueda: U.S. tariffs may affect trade activities and sentiment in various countries.Bank of Japan Governor Kazuo Ueda: Another important issue is how U.S. tariffs will affect the sentiment of households and businesses, which is crucial in assessing the impact of tariffs on the global economy.

During the week, gold markets exhibit signs of support following a rebound

Alina Haynes

May 07, 2022 10:30

 截屏2022-05-07 上午9.38.38.png

Weekly Technical Analysis of Gold 

This week, gold prices fell early, but found sufficient support near $1850 to reverse course and show signs of life. Due to this, it appears that the market is attempting to re-enter the previous consolidation region, and it is also worth noting that the weekly candlestick is a hammer, which is the same form as the previous week's candlestick. This normally indicates that a rebound is more likely than not, and a break above $1905 might confirm this.

 

Alternatively, if we were to break below the bottom of the hammer, it is likely that we would next target the $1800 level. The $1800 mark is a large, round, psychologically significant number and an area where substantial bullish pressure was previously observed. Because of this, I believe it would serve as support more often than not. In spite of this, I believe it is only a matter of time before we must make a larger decision, thus I believe it is only a matter of time before we must make a larger move.

 

Currently, I favor the upside, but I must maintain an open mind since there is certainly a great deal of market noise, and hence gold will continue to be volatile in the future. In light of this, maintain a modest position size and acknowledge that caution is currently the better part of valor.

Suggestion