Generally, a decline in the dollar tends to support gold prices; however, recent trends in the "Trump trade" suggest that gold and the dollar may rise simultaneously. Therefore, when the "Trump trade" loses momentum, gold could decline along with the dollar. Additionally, European bond yields have rebounded from lows, while U.S. bond yields have shown an upward trend following recent volatility in non-farm payrolls. Overall, gold is facing increased bearish pressures compared to before, so the primary trading stance should be bearish.

Enter short positions on an intraday breakout at 2733

Nov 04 2024