XAU/The US dollar tends to calm down after a significant reversal

gold（XAU/Analysis in USD

• Bullish momentum reflects the entry of gold2024Positive prospects for the year
• Gold volatility soars, but subsequent trends remain uncertain
  
  

The bullish momentum reflects2024The Positive Outlook of Annual Gold

After an astonishing day of trading yesterday, the gold market tried to catch its breath. Gold price 5.42% The amplitude has fallen, erasing the previous 2081 The historical high point of fluctuations near the US dollar, but then followed by a pullback, and ultimately closed significantly lower.

RSI Soaring to overbought area and restored — — Highlighted the huge fluctuations experienced yesterday. However, today's trading was relatively mild, with trading prices lower than 2050 The level of the US dollar, but the upward trend is still intact and far higher than 200 Daily Simple Moving Average (SMA)。

In the United States, the yield has peaked and the market continues to digest 2024 After the impact of the annual interest rate cut, gold bulls seem to dominate. Lower interest rates typically lower the value of the US dollar, providing relative discounts for foreign (non US domestic) purchases of gold. Goods based on US dollars.

Due to Israel's continued aggression against Hamas targets after the ceasefire ended, the appeal of safe haven still exists. Support located at 2010 The US dollar, with direct resistance located at 2050 USD, followed by 2081.80 USD.

Golden Daily Chart

Source:TradingViewRichard Snow (Richard Snow) write

The following figure involves the expected 30 The volatility of Tianjin gold shows the volatility we saw yesterday, leading to GVZ The index has risen significantly. Prior to yesterday, as the initial impact of the war between Israel and Hamas continued, the volatility of gold had weakened.

Gold Volatility Index（GVZ）