Gold continues to be weak, but be careful about operations

📣Gold prices fell 2% last Friday, hitting a near one-month low. Optimistic trade-related agreements boosted risk appetite and weakened the attractiveness of gold as a safe-haven asset. This week, the market will usher in a group meeting of major central bank governors around the world (Fed Chairman Powell, European Central Bank President Lagarde, Bank of England Governor Bailey, Bank of Japan Governor Kazuo Ueda, and Bank of Korea Governor Lee Chang-yong). The market will also usher in non-agricultural data. In addition, Powell's remarks on whether to resign may ignite the market this week. Gold prices may fluctuate more around the lower track of the Bollinger Band at $3,270/ounce this week.

Technical analysis:

Last Friday, the K-line had a lower shadow, and the Bollinger Band did not diverge. It is not easy to go short directly in operation, but wait for the rebound to confirm 3295 and the key resistance of ma5 to be short.

💰 Operation strategy: Rebound to 3280-3283 to go short, target 3270-3265, stop loss 3288-3290