International spot gold temporarily stabilized at around $1,821 an ounce in intraday trading on Thursday (June 30), and daily gold slightly pulled up the market.
Yesterday , the price of gold fell in the U.S. market, and the intraday trading was volatile. It was tugged by two forces. On the one hand, it was the resistance brought by aggressive interest rate hikes, and on the other hand, it was helped by the safe-haven buying driven by the intensifying risk of economic recession. The price of gold traded around 1817.80 in early Asian trading today , due to the resistance of aggressive interest rate hikes and the influence of safe-haven buying driven by the intensified risk of economic recession, the gold trend was stalemate; the dollar was trading around 105.10. Federal Reserve Chairman Jerome Powell said the biggest risk to the U.S. economy is persistently high inflation, rather than a sharp slowdown in economic growth due to higher interest rates.
In news: gold prices rebounded briefly as resistance from aggressive interest rate hikes and the risk of a recession intensified safe-haven buying. Federal Reserve Chairman Jerome Powell said the biggest risk to the U.S. economy is persistently high inflation, rather than a sharp slowdown in economic growth due to higher interest rates. The technical structure trend is bearish, and the short-term detours are washed away.
Gold can’t get out of one side in 4 hours, and the short-term tug-of-war is repeated. The point is more important than the direction. Yesterday, I made a short sale at 1823 and added a short position above 1830, both of which have been achieved. The trend has not changed. 4 hours is still running within the downward trend line, the resistance of the upper track is 1840-1847, the critical point has not been recovered, the short-term weak trend remains unchanged, and the operation place still maintains a rebound at high altitude and falls below 1800.
In the 1-hour chart, gold did not go out of one side with the roller coaster that rose and fell yesterday, but the tug-of-war was also relatively large, and the moving average indicator formed a suppression.