Gold technical analysis:
4H resistance 2530, support below 2485
1H resistance 2520, support below 2500
The Fed's September rate cut expectations have greatly boosted gold prices. Investors expect the Fed to cut interest rates by 25 basis points, which puts pressure on U.S. Treasury yields and the U.S. dollar, pushing gold prices to a record high on Tuesday. From a technical point of view, gold prices have been blocked from rushing up to the $2,520 mark many times, and the upward momentum has weakened. Investors need to beware of the possibility of gold prices fluctuating at high levels and building a peak. However, from the daily chart, gold prices are still in the rising stage, and technical indicators have not shown signs of falling, and the overall upward performance remains strong. Pay attention to the support of the 2480 long-short dividing line in the short term.
Gold operation suggestions for the evening:
BUY: 2482-2485, SL: 2475
SELL: 2520-2525, SL: 2530
Technical analysis only provides trading direction!