Gold → Peak or correction? Market forecast for next week

Hôm kia

Last Friday, we shorted gold at 3977 and 4000 points. Gold prices fell as low as 3946, and both of our short positions yielded profits. During the US trading session, gold prices rallied again, rising above 4000 points on the back of safe-haven sentiment.

Trade conflicts are volatile. Since Trump took office on January 20th of this year, the tariff issue has fluctuated between intense and easing. Now, the Sino-US tariff trade friction has escalated again, with Trump announcing an additional 100% tariff on Chinese goods effective November 1st. This was the main reason for last Friday's rebound.

The key lies in the Federal Reserve's October interest rate cut. While the probability of a 25 basis point cut is as high as 92.4%, the government shutdown has raised concerns that it may be delayed. Furthermore, the Fed minutes revealed that some officials, concerned about a rebound in inflation, oppose further rate cuts.

A brief ceasefire agreement between Israel and Hamas in the Middle East has eased geopolitical risks, raising concerns about boosting safe-haven demand. Gold prices have risen over 15% in the past two months. While a large number of profit-taking investors remain bullish on future gold prices, they are quick to flee at the slightest sign of trouble, especially during a rapid price drop.

Technically, after a relatively high daily and weekly close, there may be further upward momentum in the coming trading days. A new round of extreme gains followed by a sharp decline cannot be ruled out.

Resistance: 4030, 4058
Support: 4000, 3980

Trading Strategy:
Currently, the market is trading within the broad range of 3944-4058. The direction of the breakout will determine whether this is a correction or a peak. Shorting rallies within this range is the primary strategy. (Specific trading signals will be determined based on intraday trends.)

Next week, I will continue to share my personal trading signals. Wishing everyone gets what they hope for when the market opens tomorrow.

For specific trading decisions, please follow my live updates. I will update my trading ideas and strategies daily. If you don't have a plan or strategy for gold trading and are struggling to achieve consistent profits, you can refer to and follow my updates for guidance and help you avoid mistakes.

Hôm kia

Giao dịch đang hoạt động

If you don't have a plan or strategy for gold trading and are struggling to achieve consistent profits, you can refer to and follow my updates for guidance and help you avoid mistakes.

Hôm kia

Đóng lệnh: đạt mục tiêu

In trading, luck does play a role at times. But over the long run, good luck and bad luck tend to offset each other. To achieve consistent success, you must rely on skill and the application of sound principles.
Always remember: "As long as the green mountains remain, there will be no shortage of firewood" — preserving your capital ensures you live to trade another day. Don’t abandon hope for spring just because winter has arrived. A sword’s sharpness comes from honing; plum blossoms’ fragrance emerges from bitter cold. A mountain isn’t majestic without its towering height; how can lotus flowers stand gracefully without the mud beneath them?
Amid the biting wind, my resolve remains unshaken. After the rain, a rainbow will always appear!