Opinion: The 21-day moving average may provide short-term support for gold

PANews2026/02/03 03:03

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PANews, February 3rd – Matrixport released a chart today showing that after a rapid upward movement, gold has pulled back to near its 21-day moving average, which may provide support in the short term. This round of correction was mainly influenced by market news that Kevin Warsh might be nominated as the Chairman of the Federal Reserve, with his hawkish stance interpreted as a signal of tightening.

Nevertheless, Matrixport believes that against the backdrop of continued expansion of US debt, there is still demand to allocate gold. This correction is mainly to digest gains and release profit-taking, which may provide a new window for positioning in gold and silver, and does not change the long-term bullish outlook on gold. Since 2023, when the gold price was below $2,000 per ounce, Matrixport has remained bullish on gold and sees this pullback as an opportunity to position.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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华尔街见闻•2026/11/13 07:48