Gold is ready to break new highs

Gold is in an overall upward trend. The price of gold has climbed from around 3030 to a new high of 3056. Although it has a slight correction, it still remains near the key position of 3050. This shows that the gold market still has strong upward momentum in the current economic environment. If the gold price does not fall rapidly during the European session, it may mean that the gold market will continue to accumulate momentum to surge. The current upper resistance level is in the range of 3056-3060. Once it breaks through, the gold price is expected to hit the high of 3080. The lower support level is in the range of 3045-3040. The lower support level is located in the 3045-3040 range. In terms of operation, it is recommended that investors should mainly go long during the pullback, and supplement by going long during the rebound.

Operation strategy 1: It is recommended to buy at 3054-3047, stop loss at 3040, and the target is 3065-3080.

Operation strategy 2: It is recommended to sell at 3077-3082, stop loss at 3088, and the target is 3065-3050.