Market evening summary

Spot gold rose and then fell in the Asian session. The price hit a new record high at $3,659.32/oz and fell to a low of $3,628.18/oz. It is now trading around $3,644.00/oz. Silver is also trading in a high-range consolidation.

Key factors

- Continued safe-haven demand: Global trade and geopolitical uncertainty keep supporting precious metals.

- Data expectations: The revised US nonfarm payrolls (NFP) data will be released tonight and could affect Fed policy expectations and the dollar. Watch this closely.

- Technical consolidation: Gold has made a new high and is now undergoing a technical pullback, trading sideways at high levels. The overall uptrend has not changed.

Evening trading strategy guide

Gold (XAU/USD)

- Range: $3,635.00 – $3,650.00/oz

- Approach: Buy low and sell high inside the range; trade quickly.

Breakout rules:

- If price breaks below $3,635.00, it may test $3,625.00 and $3,615.00. Consider short positions with a stop loss at $3,640.00.

- If price breaks above $3,650.00, it may test $3,660.00 and $3,670.00. Consider long positions with a stop loss at $3,645.00.

Silver (XAG/USD)

- Range: $41.190 – $41.470

- Approach: Buy low and sell high inside the range.

Breakout rules:

- If price breaks below $41.190, targets are $40.700 and $40.300. Consider short positions with a stop loss at $41.390.

- If price breaks above $41.470, targets are $41.900 and $42.300. Consider long positions with a stop loss at $41.270.

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.