Gold Strategy - Bulls Limited by Strong Dollar, Rebound Lacks Strong Support

Fundamental Analysis:

Reports indicate that Israel approved plans on Sunday to settle in the Golan Heights, a region it occupies. This adds potential geopolitical conflict risks. However, gold has not responded with a rebound, suggesting that the event’s safe-haven appeal is insufficient. On the other hand, investors currently believe that Trump’s new policies will increase inflation risks and delay future Federal Reserve rate cuts. Combined with the strong U.S. data released last week, the dollar is expected to gain short-term support, further limiting the rebound momentum of precious metals.

Technical Analysis:

The 15-minute gold chart shows prices moving within a descending range, with potential for corrections to the supply and demand zone to accumulate momentum again. Therefore, short positions can be entered at the supply zone, with stop-loss set above the top of the range and targets at the bottom of the range to the current low.

Recommendation:

Short at 2659.51 or better, stop loss above 2664.41, target 2654.61.

Support Level: 2646.01 Resistance Level: 2664.41

Disclaimer: The above content is for reference only and does not represent the platform's position. Stick to your own strategy and practice proper risk management.