Gold trend analysis, easily make money for you
Entering the European market on Monday (March 11), spot gold consolidated at a high level after several consecutive days of sharp gains. It is currently waiting for the next trend near the record high. The market remains cautious before the key US CPI inflation report, etc. New clues for Fed rate cut.
After rising for eight consecutive days, spot gold broke through record highs one after another. It once touched near 2195 last Friday and is currently consolidating at a high of around $2180.
Gold prices hit a record high of $2,194.99 for a fourth straight day on Friday after data showed a cooling in the U.S. job market.
According to the current gold trend, the gold price is currently fluctuating at $2,180. Short selling is still not a wise approach at this stage. As far as the current trend is concerned, the gold price may correct. Pay attention to the gold price trend at any time to make the right choice.
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The current trading idea is that the price is within the range. Go short at high prices and go long at low prices.