London Gold 9month20day

data displaygoldListed Trading Fund(ETFs)The amount of gold held continues to rise to new highs as more and more investors respond to the sharp rise in gold prices and increase the proportion of gold in their investment portfolios. To supportStreetTRACKS Gold SharesThe amount of gold has increased to a record breaking level575.6Tons, compared to8The end of month level has increased by about60Tons.

On Wednesday morning, due to a significant interest rate cut by the United States, gold was pushed to its highest level at one point727.00Horizontal, but later on, due to the rebound of the US dollar and the suppression of high profit margins, gold gradually reduced its previous gains Degree flow direction to720Horizontal. Technically speaking, the price of gold has gradually approached last year's high point730US dollars. On the other hand, gold prices have stabilized720Technically, the level has gradually stabilized, but the upward trend of gold prices remains to be tested, while the lower levels are even more stable The key is to716and9Balance moving average714Level, paying attention to failure will be a risk warning for adjustment. Looking at another key support, it will be703and700The US dollar barrier. expect730Just for an important heart At the critical juncture, when the market trend shows a unilateral upward trend, breaking through is expected to be easy, and then challenging the target upwards can be seen first738US dollars. Based on the bleak outlook of the US dollar and the high oil prices, The next goal for gold prices will be to break through last year's high and have the opportunity to reach another market consensus target750USD import and export; However, from a short-term perspective, the continuous rise in gold prices has accumulated a lot of profit chips in the market, as This does not rule out being hindered near last year's high and experiencing short-term adjustments, and then rising again after adjusting for overbought technical indicators. Therefore, investors can730Take some profit taking and buying near the US dollar, if there is a market correction and Retesting716/718The support of the US dollar will be another good opportunity for investors to repurchase.

London Gold 9month20day
Predicted wave amplitude:718.00 - 724.50
Support bit:716.00 - 703.00
Resistance level:728.30 - 738.00

(Analysis provided by Zongheng Huihai Research Department | www.MW801.com )