Gold and Silver Retreat as Expected, Nonfarm Payrolls Coincide with Easter Market Closure

Deep News04-03 18:51

On April 3, market news: Precious metals experienced a significant decline today, primarily influenced by remarks from Donald Trump earlier this morning. Trump stated that the U.S. would launch "extremely heavy strikes" against Iran within the next two to three weeks, a sharp contrast to the conciliatory signals exchanged between the U.S. and Iran in recent days. This has fueled market expectations of further escalation in the Middle East. Subsequently, crude oil and energy chemical prices surged again, while expectations for Federal Reserve interest rate cuts were dampened. Non-ferrous metals and precious metals underwent a weak adjustment, reigniting the "seesaw effect." Given the current short-term volatility and heightened uncertainty, investors are advised to exercise caution and manage risks carefully. (This content and viewpoint are for reference only and do not constitute any investment advice.)

Due to the U.S. Nonfarm Payrolls data release on Friday coinciding with the Western Easter holiday market closure, coupled with the impact of geopolitical developments, the data cannot be immediately reflected in prices. Increased uncertainty raises the risk of a significant gap at Monday's opening. It is recommended to avoid holding positions over the weekend and to focus on risk control.

Spot Gold (London Gold): From a technical perspective, yesterday's daily chart closed with a small bullish candle. The Bollinger Bands are opening, the KDJ indicator shows a golden cross with expanding volume, and the MACD is poised to form a golden cross. The overall trend remains bullish, with a medium-term staged upward movement. In the short-term 4-hour chart, the Bollinger Bands are preparing to open, the KDJ indicator is nearing a golden cross formation, the MACD fast line is below the slow line, and the green energy bars are gradually diverging. The hourly chart indicates the Bollinger Bands are beginning to contract, the KDJ indicator displays a golden cross with expanding volume, and the MACD is approaching a golden cross. Short-term prices have corrected as anticipated. After the current corrective consolidation, further rebound potential will be monitored. Key support levels are at 4644/4580/4533, while resistance levels are observed at 4699/4733/4801.

Shanghai Gold: Resistance levels to watch are 1046/1064, with support levels at 1032/1020.

Spot Silver (London Silver): The broader trend shows wide fluctuations, with a medium-term staged downward movement. Short-term prices have corrected as expected. Following the current corrective phase, the potential for a rebound will be monitored. Resistance is seen at 73.1/75.8, while support levels are at 71.1/69.5.

Shanghai Silver: The trading range is observed between 17240-18560, with a broader range between 16200-19400.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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