📌 Gold Consulting
Gold prices rose sharply on Monday, reaching their highest level in more than four weeks, affected by the escalation of geopolitical risks caused by the conflict between Russia and Ukraine. The re-escalation of trade tensions between China and the United States prompted investors to buy gold throughout the day. As of this writing, XAU/USD is trading at $3,377, up 2.70%.
Market sentiment turned sour on news that Ukraine launched an airstrike against Russia, destroying long-range bombers and other aircraft. Meanwhile, US President Trump doubled the tariffs on steel and aluminum imports to 50%, effective June 4, and his remarks against China led to a decline in US and global stock markets. CNBC
Reports said that Trump and Chinese President Xi Jinping may talk this week, but not on Monday.
📊Comment Analysis
Gold prices maintained their upward momentum at the beginning of this week, but tariff tensions and war with Russia remain unpredictable. Gold prices are supported and will return to the 3400 area.
💰Strategy Package
🔥Sell Gold Zone: 3409-3411 SL 3416
TP1: $3400
TP2: $3388
TP3: $3372
🔥Buy Gold Zone: $3313-$3315 SL $3308
TP1: $3327
TP2: $3340
TP3: $3355
⭐️ Note: Labaron hopes that traders can properly manage their funds
- Choose the number of lots that matches your funds
- Profit is 4-7% of the fund account
- Stop loss is 1-3% of the fund account
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.