Gold's upward trend has not stopped yet, adjust and buy long again!
Amid the turmoil of the tariff trade war, gold, which has a safe haven attribute, has shown signs of overbought. Global central banks have strong demand for gold purchases, and the People's Bank of China has continuously increased its holdings of gold, providing solid support for the gold price; At the same time, the continued geopolitical uncertainty has led to a constant demand for safe haven, resulting in a phenomenon of "buying up and not buying down" and a wait-and-see attitude among consumers. Some investors are optimistic about future price increases and choose to enter the market!
In the current global landscape and the trend of gold, the price of gold is still in an upward phase and is supported by various news sources, making it impossible for it to fall. However, if we want to participate in the market during the trading session, we hope everyone can follow the trend and buy long when the market falls back! Last night, the gold price rose again after hitting the 3050 line. The appearance of a pullback low point in the rising wave also means that there is strong support below. If gold adjusts again, the low point cannot fall below the 3050 line. Therefore, our long position can refer to the slight upward movement of the 3050 line. In the morning session, we can adjust to the 3055 line to start our long position!
Specific strategies
Gold 3055 buy long, stop loss 3045. Target 3080
Disclaimer: The above suggestions are for reference only. Investment carries risks, and caution should be exercised when operating
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