The US tariff policy has led to a new high in gold prices, so stay bullish during trading!
A few days ago, we also emphasized to everyone that the US tariff policy has been disrupted, and the Trump administration announced on April 2nd the imposition of tariffs on multiple countries, which has raised concerns about a global trade war. At the same time, the tense situation in the Middle East, the deadlock in negotiations between Russia and Ukraine, and the threat from the United States to Iran have heightened risk aversion. In fact, this short-term rise is still due to the implementation of tariffs! The short-term rise of gold has reached a new high, and the bullish market for gold has continued! At present, the gold market is expected to maintain a strong upward trend!
Recently, the focus is on the ADP employment data on April 3rd. If the non farm payroll report on April 5th is strong, it may suppress gold prices. The situation between Russia and Ukraine has eased, and gold may face profit taking. But in the current market, the gold price is still strong, so we don't have to think about when it will turn short during the trading session. Just stay bullish and follow the trend! After a wave of upward movement in gold prices, the intraday resistance level is at the $3167 level and the expected $3200 level, while the support level is at the $3135 adjustment platform and the $3100 integer level! In the morning session, the gold price returned to around 3135 and continued to go long!
Specific strategies
Buy long gold 3135, stop loss 3125. Target 3165
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