Gold's strength remains unchanged, stay ahead and follow up with the trend to go long within the day!
In order to avoid debt reasonably, Trump actively weakened the US dollar. Currently, the US dollar index has fallen to a three-year low of around 98.00, severely damaging the credibility of the US dollar as a global reserve currency. London gold has also attracted a large influx of funds. In addition, factors such as the Russia Ukraine war, the Middle East situation, and US policies continue to exist, and the uncertainty of the global economic outlook and safe haven demand will continue to provide support for gold.
Global central banks continue to increase their holdings of gold, purchasing over 1000 tons of gold annually from 2022 to 2024. By 2025, the global central bank's gold purchases will reach 20% of gold demand. Banks around the world continue to purchase gold, forming long-term support for gold prices. In the future, the market will also maintain a unilateral upward trend for a long period of time. As for the short-term market impact, small cycles follow large cycles, and we are waiting for gold prices to rebound and continue to follow up with bullish sentiment! Today, we will focus on the psychological support level at the 3400 level. If the gold price adjusts to 3400, we can follow suit!
Specific strategies
Buy more gold 3400, stop loss 3390. Target 3450
Disclaimer: The above suggestions are for reference only. Investment carries risks, and caution should be exercised when operating
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