Smart Money Brief Team | Gold Analysis
Gold prices held steady during yesterday’s session and into this morning, trading within a tight range. But is this truly a sideways market? Absolutely not — prices are on the verge of breaking out. Let’s dive into today’s detailed gold market insights.
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⚠️ Market Mood: Calm Before the Breakout
Despite the calm, gold is preparing for a significant price movement. Many traders mistakenly assume stability, but the market signals suggest otherwise.
📉 Quick Recap – June 5 Movements
- Opening Price: ~$3,333
- Short Entry: $3,331
- Target: $3,311
- Low Reached: ~$3,312
- Current Price: ~$3,344
Even within this tight range, the market respected our key levels.
🧠 Fundamental Insights – June 6
1. U.S. Gross Domestic Product (GDP):
- Previous: -0.2%
- Estimate: -0.2%
✅ Neutral impact
2. Jobless Claims:
- Data is similar to prior releases
✅ Limited influence on gold
🟢 Takeaway: No significant change expected today from macroeconomic releases.
🌍 Global Factors & Powell’s Comments
Despite hawkish remarks from the Fed, the dollar remains under pressure — a bullish sign for gold.
Geopolitical tensions (e.g., U.S.–Iran) didn’t move the market as expected, which highlights how gold sometimes reacts counterintuitively.
Powell’s vague explanation on the dollar’s weakness added to the mystery:
“Investors are facing a complex situation.”
🧾 Options Expiry & International Behavior
- U.S. markets surged at month-end options expiry
- China remained neutral
- Europe responded positively
This shows a divergence in regional sentiment, keeping volatility alive.
📊 Price Action Forecast
- Recent Movement:
• ~$100 drop early week
• ~$50 recovery = 50% retracement
✅ Suggests a bearish continuation is possible.
🚫 False Narratives: China & Treasuries
Some rumors claim “China is dumping U.S. Treasuries and buying gold” — but official data contradicts this.
Smart Money Brief Team brings only verified insights — no baseless speculation.
💱 USD vs. EUR: The Real Story
The euro is gaining despite rate cuts, while the dollar is weakening despite strong U.S. data.
This contradiction points to deeper structural shifts in the financial landscape.
🔍 Technical Summary – Gold Levels
- Current Price: $3,346
- Pivot: $3,340
Resistance:
- Minor: $3,353
- Strong: $3,373 / $3,389 / $3,403
- Critical: $3,432
Support:
- Minor: $3,330
- S1: $3,319
- S2: $3,303
- S3: $3,292
- Major: $3,275
- Final: $3,259
📉 Active short positions:
- From $3,331
- From $3,344
- Latest: $3,353
- 🎯 Stop loss: $3,365
📈 Trading Central Signal
When gold was at $3,334:
- Bullish if above $3,311
• Target: $3,357 ➝ $3,372 - Bearish if below $3,311
• Target: $3,295 ➝ $3,271
🪙 Silver Outlook
- Current: $36.37
- Bullish above $36.05 ➝ Target: $36.60 / $36.75
- Bearish below $36.05 ➝ Target: $35.85 / $35.65
✅ Final Thoughts
This concludes today’s gold and silver analysis.
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