Gold rose rapidly in the morning session, and the high point is about to reach our expected target level of 3350!
The uncertain tariff plan of Trump has made investors nervous in the gold market, and global trade uncertainty continues to ferment. The US government has also launched an investigation into drug and semiconductor imports, raising concerns about trade wars and economic recession in the market, which has led to a large number of investors buying gold as a safe haven. The US dollar index is hovering around a three-year low, although it rebounded yesterday, the overall trend is still weak, providing further upward support for gold.
The trend of global central banks increasing their holdings of gold is still ongoing, providing long-term support for gold prices and demonstrating the importance of gold in global asset allocation. However, the main logic that can cause gold to rise is the US debt crisis and concerns about trust against the US dollar, which are the main factors affecting gold in the long run. In the current market view, gold has hit a new high in the morning, which is closer to the target level of 3350 we previously set. We believe it will not be long before it is reached. In the market, we only need to intervene at the right time and take long positions on dips to follow suit! At present, the top priority is to pay attention to the top and bottom conversion position of the 3246 line support below!
Specific strategies
Gold 3246 buy long, stop loss 3236. Target 3300
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