We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood

We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details

Trader Affiliates

Market News Spot gold trading strategy on June 10: U.S. bond yields are firm, CPI is coming, beware of the risk of falling

Spot gold trading strategy on June 10: U.S. bond yields are firm, CPI is coming, beware of the risk of falling

The market generally pays attention to the U.S. CPI data in May in the evening, and temporarily has a strong wait-and-see sentiment; the market expects that the overall U.S. CPI will increase by 8.3% year-on-year, and the “core” CPI will increase by 5.9% year-on-year, which is lower than the increase of 6.2% in April, but still in the The multi-year high level may strengthen the expectation of aggressive interest rate hikes by the Federal Reserve, which is not conducive to the price of gold; and the yield on the 10-year U.S. Treasury bond continues to rise above 3%, the global central bank will generally raise interest rates gradually, the opportunity cost of holding gold will increase, and the price of gold will decline. Pressure has increased.

2022-06-10

7937

During the Asia-Europe session on Friday (June 10), spot gold fluctuated slightly and was currently trading at around $1,844.19 an ounce, close to the support near the 200-day moving average. The market expects that the overall U.S. CPI is expected to stabilize at 8.3% year-on-year, and the "core" CPI is up 5.9% year-on-year, which is lower than the 6.2% increase in April, but still at a multi-year high, which may strengthen the Fed's aggressive rate hike expectations. Unfavorable; and the US 10-year Treasury yield continues to rise above 3%, global central banks will generally gradually raise interest rates, the opportunity cost of holding gold has increased, and the downward pressure on gold prices has increased.

Of course, it is also necessary to pay attention to changes in risk aversion driven by geopolitical tensions and falling stock markets.

Daily level: shock; moving averages are intertwined, KDJ is running, the price of gold fell after being blocked near 1874, the current 200-day moving average near 1842.80 support is in jeopardy, the short-term downside risk has increased, pay attention to the support near the low of 1836.74 on June 7, if Losing this position will increase the short-term bearish signal; further support is near the low of 1828.38 on June 1, and the lower Bollinger Band support is near 1811.54.

The initial resistance above is near the 1850 mark, and the high resistance this week is near 1859.51. Given that the MACD golden fork signal is still there, if it can break through this resistance, it will weaken the short-term bearish signal; further resistance is near the high point of 1873.99 on June 3. , you can also refer to the resistance near the Bollinger Line at 1878.88; once the resistance is broken, it will increase the bullish signal of the midline; the stronger resistance is near the 100-day moving average at 1891.11.

Resistance: 1850.00; 1859.51; 1873.99; 1880.00;
Support: 1836.74; 1828.38; 1820.00; 1811.54;

Short-term operation suggestions: conservatives wait and see; radicals are cautiously short on rallies.