On the previous trading day, the gold market continued its strong upward trend, and the bullish performance was extremely impressive. On Wednesday, gold successfully broke through the key resistance level of 2930, breaking the previous restriction and opening an upward channel. On Thursday, the upward trend not only continued, but also entered a phase of increased volume, directly breaking through the previous high of 2956 without any pause, reaching the highest point of 2990. The daily chart closed with a long yang, showing a strong pattern of three consecutive upward movements.

Since the uptrend that started at the low point of 2583, gold has rarely experienced major adjustments and has mostly shown a single bullish trend. Although there was a pullback from the 2956 position due to news pressure, on the one hand, Dong Wang's tariff policy did not come into effect, and on the other hand, the Russia Ukraine peace talks eased the risk aversion. However, this was only a brief pullback in four trading days, and the adjustment was completed in a short period of time before quickly returning to a bullish rhythm. The resistance level of 2930 was finally effectively broken through, accompanied by a massive increase in volume, marking the strong return of gold and confirming the continuation of the overall bull market pattern.

From yesterday's data, the PPI data gave 0%, lower than the expected 0.3%, highlighting the mild trend of inflation in the United States, which is more conducive to the Federal Reserve's upcoming interest rate cuts and provides potential upward momentum for gold prices. Meanwhile, Dong Wang continues to increase tariff policies, which will to some extent slow down the global economic recovery and further boost market risk aversion. In addition, the US government is facing a shutdown crisis, and Congress and Trump have not been able to reach an agreement on the budget. If an agreement cannot be reached early this evening, the government is expected to shut down, which undoubtedly provides strong support for safe haven asset gold in the short term.

In terms of short-term form, gold is in a high volatility state today. After the rise of Changyang yesterday, the price has remained at a high level, which can be seen as a sideways correction. In the extremely strong form, there are two ways to correct the sideways trend: one is to step back and accumulate strength before rising again, and the other is to continue to break through the high after repeated sideways oscillations. The current sideways volatility indicates a strong trend in market prices, so investors should not overly wait for a pullback before going long.

Overall, the gold price continues the overall bull market and upward trend, and there is no doubt that it will continue to be bullish in the future. In short-term trading, it is recommended to go bullish around the low point of 2981 this morning. It is expected to break through the 3000 level this trading day. Let's witness the breaking and refreshing of the entire thousand level together. Investors need to closely monitor market trends, seize investment opportunities in a timely manner, and do a good job in risk control.

Investment carries risks, and caution should be exercised when entering the market. The above suggestions are for reference only.