Today’s gold price range: 4980

Today’s gold price range: $4980 – $5050

Hello everyone.

Today is Tuesday (March 17), and gold is currently trading around $5,022 per ounce.

Here are some answers to your questions:

Q: What’s the latest news in the gold market today?

Answer: The gold price today generally shows a stable and consolidating trend. Gold prices recovered after falling below $5,000, with attractive buying and covering of short positions.

The U.S. dollar index fell sharply yesterday, limiting the decline in gold prices.

Trump said the Federal Reserve should immediately convene a special meeting to cut interest rates, a comment that had a negative impact on the dollar.

Lower oil prices help ease inflation concerns: Crude oil prices opened higher yesterday, but then fell, accelerating before the start of the U.S. trading session, which eased concerns about inflation and caused the dollar index to fall.

Q: Is the situation in the Middle East still escalating?

A: The situation in the Middle East remains tense, but the basic logic of market transactions has changed. Trump said oil prices would fall quickly once the war with Iran ends. The current fundamental contradiction is the rebalancing between “risk-off buying” and “long-term high interest rate expectations.”

In the short term, higher oil prices will limit the potential for gold prices to rise.

Q: What do technical charts show?

Answer: The technical pattern shows the characteristics of “first falling, then stabilizing and consolidating”.

Main price levels:

Support levels: $5000-4980 (psychological level), $4965-4975 (yesterday’s low), $4950-4930 (former support zone)

Resistance levels: $5030-5050, $5080-5100

Q: What are the specific intraday trading strategies?

A: In view of the Federal Reserve’s decision tomorrow night (Wednesday morning), the market usually remains cautious before major risk events occur. It is recommended to follow the strategy of “range trading, buy low and sell high”.

Strategy 1: Sell on highs (main strategy)

Entry point: focus on the $5020-5040 range.

If gold prices rebound into this range and show signs of slowing down, it is recommended to open a small selling position.

Target price: around US$5,000-4,980.

Stop Loss: Set above $5,070.

Strategy 2: Buy at key support levels (buy on dips, be cautious).

Entry point: Wait patiently for gold prices to fall to the $4980-4965 area (yesterday’s lower support area).

Target price: $5020-5050.

Stop Loss: Set below $4,950.

Q: What events tonight and tomorrow deserve close attention?

Answer: Please pay close attention to the following points:

U.S. economic data: Tonight, focus on the U.S. Existing Home Sales Index in February (month-on-month) and the February U.S. Leading Economic Index (month-on-month) released by The Conference Board. Market expectations for gold prices are bearish; please be aware of the possibility of a short-term correction.

Federal Reserve meeting: The most important events are the Federal Reserve’s interest rate decision on Thursday (March 19), the monetary policy statement, the dot chart, and the press conference of Federal Reserve Chairman Powell.

The market generally expects interest rates to remain unchanged, but focuses on the impact of the dot chart on the number of interest rate cuts this year.

The situation in the Middle East: The Trump administration’s unstable stance makes the course of this conflict difficult to predict; so beware of any unexpected news.

Summary: Today’s focus is on the price range of $4,980 to $5,050. Before the Fed meeting, the strategy of shorting near the upper limit and buying near the lower limit is relatively safe.