Gold prices soared again!Market news:
In the early Asian session on Wednesday, spot gold suddenly surged in the short term, breaking through the $3,275/ounce mark, with an intraday increase of more than $45. The latest report from Bloomberg News in the United States said that as the Trump administration pushed forward investigations that could expand the trade war, it stimulated demand for safe-haven assets, and the London gold price hit a record high again. As the escalating trade war has raised concerns about the prospect of a global recession, as a traditional safe-haven asset, gold has accumulated a gain of more than 23% in 2025, continuing to set a record. As investors increase their holdings of international gold-backed exchange-traded funds (ETFs) and central banks continue to increase their holdings of gold, major banks remain optimistic about the outlook for gold in the coming quarters. Investors are waiting for a speech by Federal Reserve Chairman Powell, scheduled for Wednesday, to look for clues related to interest rates. It is also necessary to pay attention to the US retail sales data at 20:30 on Wednesday and the specific implementation details of Trump's tariff policy. The analyst specifically reminded that market liquidity may decline before the Good Friday holiday, and any sudden policy changes may trigger sharp fluctuations.
Technical Review:
Gold opened sharply higher in the early trading and hit a new record high. It broke through the 3230 mark in the late trading and stabilized. The price continued to break the adjustment range of yesterday and rose in large volume. There was no technical movement during the day. The super-gain appeared in the early trading, and the price continued to hit a new record high. As investors turned to safe-haven assets amid the uncertainty brought by the continued tariff plan of US President Trump, additional tariffs could exacerbate the ongoing trade war and slow global economic growth. As global stock markets bottomed, the pressure on gold finally eased, and the precious metal rose sharply to a record high. The rise was very fierce because everyone rushed into the gold market, hoping to use it as a safe haven against the stagflation caused by the trade war. From a more macro perspective, gold is still in an upward trend because real yields may continue to fall because the threshold for rate hikes remains very high. Potential risks include another sharp sell-off in the stock market or a hawkish stance from the Federal Reserve. In the short term, given that gold's buying positions are too concentrated, if the trade war eases, gold prices are likely to experience a deeper correction, so it is necessary to pay close attention to developments in this regard. The current environment still supports the rise of gold, but the road to gold price rise will not be smooth, and there may be a temporary correction in the middle.
Today's analysis:
Gold directly broke through the new high in the early trading to avoid risks. The short-term adjustment of gold ended and finally completed the adjustment in a volatile manner. This kind of strong buying market of the breakthrough will basically not fall back too much. Since gold has chosen to break upward, since it has broken through, then it is to buy in the trend. The decline of gold is an opportunity to buy.The 1-hour moving average of gold began to turn upward. If the 1-hour moving average of gold continues to diverge upward, then the buying of gold will continue to exert its strength. After gold breaks through 3245, then gold 3245 has formed support in the short term. Buy on dips when gold falls back to 3245. The strength of the wave of gold in the morning was still there at that time, so after the high, you must wait patiently for adjustments and continue to go long. Gold can continue to buy when it falls back to around 3245.
Operation ideas:
Buy short-term gold at 3245-3248, stop loss at 3236, target at 3280-3290;
Sell short-term gold at 3293-3295, stop loss at 3304, target at 3250-3240;
Key points:
First support level: 3253, second support level: 3240, third support level: 3225
First resistance level: 3280, second resistance level: 3300, third resistance level: 3315
