On last Friday (August 1), gold prices rebounded strongly as multiple positive factors triggered a surge in risk-off sentiment.
U.S. non-farm payroll data for July fell far short of expectations, and former President Trump unexpectedly announced a significant increase in tariffs on Canadian goods. Coupled with a sharp decline in U.S. equities, market expectations for a Fed rate cut in September surged, making gold once again a safe haven for capital. Looking ahead, investors will closely watch inflation data, speeches from Federal Reserve officials, and whether Trump will further escalate trade tensions — all of which could drive greater volatility in gold prices.
Spot gold rose as much as 2.26% intraday, breaking above $3,360 per ounce.
Trading suggestion: After reaching a weekly low of 3267.5, gold saw a strong rebound on Friday, driven by weaker-than-expected non-farm payroll data and heightened expectations of interest rate cuts. The weekly high reached 3363.6 before entering a consolidation phase. Ultimately, the weekly candlestick closed at 3363.2, forming a hammer pattern with a very long lower shadow. This pattern indicates indecision at high levels, and after testing the bottom, a pullback followed by a buying opportunity is expected this week.
Buy near 3335, Stop loss 3329, Target 3345–3390.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
