Gold hits a new high again, with opportunities to retrace and support during trading to keep up!
Early morning gold prices hit a new historical high! Due to the continued trend of global de dollarization, the US dollar index fell below the 99 level, reaching a new low since April 2022. The opportunity cost of holding gold has decreased, and central banks in many countries have continued to increase their gold reserves, providing medium - and long-term support for gold prices, indirectly enhancing the attractiveness of gold and leading to a sharp rise in gold prices at the opening of the morning session!
In addition, the US government's strengthening of financial regulation has triggered market concerns about the independence of the Federal Reserve. Adding to the uncertainty of trade negotiations, the situation in the Middle East is tense, and the Russia-Ukraine conflict is still continuing. It continues to promote the flow of funds to gold. In the near future, from many perspectives, gold has remained bullish for a long time, while for our daily layout, we still wait for the opportunity to fall back and become bullish. In the early morning, we focused on the top bottom transition to 3357, and slightly adjusted back to follow the trend and become bullish!
Specific strategies
Gold 3357 buy long, stop loss 3347. Target 3400
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