Gold: Stable in the $4,400-4,500 range.

Hello everyone.

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

Answer: Gold prices continue to fall today. The main reasons for this decline are as follows:

The United States hinted at the ceasefire proposal through a third party. On the 25th of this month, Iranian Foreign Minister Araqchi confirmed that Iran is “studying the plan proposed by the United States to end the war.”

Although Iran denies direct negotiations with the United States, any sign of communication would prompt the market to reassess previously priced risk premiums, prompting some hedge funds to wait and see.

This is the main reason why gold price fluctuations are limited.

Technical Analysis: Gold prices are currently trading between $4,400 and $4,500, awaiting new catalysts.

First, let’s look at Clash (a positive indicator for gold):

Israeli Prime Minister Benjamin Netanyahu ordered the destruction of as many Iranian military facilities as possible within 48 hours.

The Israel Defense Forces today launched a massive attack on infrastructure in Isfahan, Iran.

The Iranian military warned that any further provocations could open a new front and stressed that the situation in the Strait of Hormuz was irreversible.

Second, we look at the negotiation outlook (a negative indicator for gold):

The United States proposed a 15-point ceasefire plan and conveyed the message through Pakistan and other countries.

The United States and Israel temporarily removed the names of Iran’s foreign minister and speaker of the Iranian parliament from the purge list for four to five days to clear the way for negotiations.

The market has begun to price in expectations that oil prices will fall sharply if a deal is reached.

Q: What is the current situation from a technical analysis perspective?

one:

Daily chart: Gold prices are currently fluctuating between $4,400 and $4,500.

4-hour chart: The upward momentum is weak, with resistance in the $4500-4530 range and support in the $4400-4380 range.

Main price levels:

Support levels: $4400-$4380, $4320-$4335, $4250-$4200

Resistance levels: $4450-4500-4530, $4600-4635

The market is currently experiencing significant volatility due to news events, with gold prices fluctuating between $4,400 and $4,500.

Trading strategy: It is recommended to adopt a range trading strategy, that is, “buy low and sell high.”

Entry point: focus on the $4500-4530 range.

If gold rebounds into this range and then starts to show signs of slowing, consider opening a small short position.

Target price: around $4430-4400.

Stop Loss: Set above $4,560.

(Be careful when betting on a price rebound)

Entry point: focus on the $4400-4380 range.

If gold prices fall into this range and start to show signs of stabilizing, a small buy position can be opened to take advantage of a price rebound.

Target price: $4450-4500.

Stop loss: below $4360.

Breakout strategy

Upside Breakout: If the price breaks out strongly and stabilizes at $4,560, you should close short positions and open a small buy position with a price target between $4,600 and $4,650.

Price falls: If the price falls below $4,380, it is recommended to close the position and open a small sell position with a target price between $4,320 and $4,300.

Iran’s eventual response to the ceasefire proposal is a key factor.

If Iran refuses to negotiate or the conflict escalates, gold prices could rebound quickly.

However, if the negotiations make progress, falling oil prices will weigh on gold prices.

U.S. economic data: The U.S. core PCE price index for February, the Fed’s most anticipated inflation gauge, will be released on Friday. If the data is better than expected, it could reinforce the Fed’s hawkish stance. Follow our free advice; our success rate is 100%.

Thank you for listening. If you have any questions, please leave a message and I will answer them one by one.

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