The number of initial jobless claims in the United States hit a new low, indicating that the job market is improving and may reduce demand for gold; secondly, global central bank monetary policies have a significant impact, and loose policies support gold prices, but future policy changes may restrain the rise; thirdly, the situation in the Middle East Tensions and other events affect the demand for gold as a safe haven; fourthly, investors are cautious about gold, and gold prices may remain volatile amid the interweaving of long and short factors.
According to the current chart analysis, firstly, the 5-day moving average crosses the 10-day moving average from bottom to top, forming a "golden cross", indicating that the market trend may be changing in a short period of time, from a downward trend to an upward trend, which can be regarded as a buy signal; secondly, the gold price is currently running above the 5-day moving average, further indicating an upward trend in the gold price, and investors can continue to hold or increase their positions; thirdly, the enlarged shape of the Bollinger opening indicates that the gold price has room for further increase; fourthly, the RSI currently does not show an overbought signal, indicating that the gold price is still in an upward trend and the market is in a strong state; in summary, the evening is still dominated by low longs.