3420, gold prices can reach today

📌 Gold driving factors

Driven by the weakening of the US dollar and safe-haven demand, spot gold closed up $93.77 on Monday, up 2.9%, at $3333.32 per ounce.

On Monday local time, US President Trump signed an order on biomedical research, hoping to take the opportunity to promote the US pharmaceutical manufacturing industry. Trump also announced that tariffs on pharmaceutical products will be announced in the next two weeks.

Kitco Metals senior metals analyst Jim Wyckoff said: "We see continued inflows of safe-haven demand, keeping gold prices high. Gold prices will remain above $3,000 per ounce, at least in the short term."

Gold is often seen as a safe-haven tool in uncertainty and performs well in a low-interest rate environment. Gold prices have soared 26.3% this year and have set new historical highs many times.

📊Comment Analysis

Bulls regained their dominance, and the upward trend approached above 3400 before the market expected a rate cut

💰Strategy Set

🔥Sell Gold Area: 3418-3420 SL 3425
TP1: $3410
TP2: $3400
TP3: $3385

🔥Buy Gold Area: $3323 - $3321 SL $3316
TP1: $3330
TP2: $3340
TP3: $3358

⭐️ 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

Labaron

"The Golden Key to Financial Freedom" welcome to join the free channel
t.me/+alDpuIRD9vU4MWQx

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Gold could reach 3420 today

by Labaron

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Labaron

"The Golden Key to Financial Freedom" welcome to join the free channel
t.me/+alDpuIRD9vU4MWQx