Market evening summary

Spot gold showed a spike then a pullback in the Asian session. The day’s high was 3656.69 USD/oz and the low was 3630.53 USD/oz. It is currently trading around 3649.00 USD/oz. The market remains in a high-level range and investors are cautious.

Key factors

- Data-driven: US inflation data will be released tonight and could affect Fed expectations, so markets are cautious.

- Safe-haven support: Global trade policy and geopolitical uncertainty continue to support precious metals.

- Technical consolidation: Gold is oscillating near record highs and needs a new catalyst to pick a direction.

Evening trading strategy guide

Gold (XAU/USD)

Range: 3646.00 – 3657.00 USD/oz

Idea: sell high and buy low inside the range. Use small position sizes.

Breakout rules:

- If price breaks below 3646.00, look for supports at 3636.00 and 3626.00. Consider following the down move with short positions. Stop loss: 3651.00.

- If price breaks above 3657.00, look for resistances at 3667.00 and 3677.00. Consider following the up move with long positions. Stop loss: 3652.00.

Silver (XAG/USD)

Range: 41.780 – 42.180 USD/oz

Idea: sell high and buy low inside the range.

Breakout rules:

- If price breaks below 41.780, targets are 41.300 and 40.800. Consider following the down move with short positions. Stop loss: 41.980.

- If price breaks above 42.180, targets are 42.600 and 42.900. Consider following the up move with long positions. Stop loss: 41.980.

Risk warning

Markets are unpredictable and you can lose money. This information is for reference only and is not investment advice. Make your own decisions based on your risk tolerance.