Overnight Market Review (2022.8.15) At the beginning of the Asian market on Tuesday (August 16), spot gold was hovering below the 1780 mark and currently trading around $1777.35 per ounce. The US dollar index rose sharply overnight, hitting a new high in a week. The pressure was obvious, and the price of gold once fell to around the 1770 mark. The daily K-line chart showed a top signal of “bearish engulfing” at a relatively high level. Investors need to beware of the risk of further decline in the price of gold.
“Gold has been stuck around $1,800 and a stronger dollar on Monday is driving gold and the broader commodity markets lower. Gold is trading cautiously now and the Fed is going to keep raising rates… Investors do expect higher rates to come.”
Trading strategy deployment: it is recommended to do more at low levels
All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.
