Gold: Focus Remains on Buy-the-Dip Strategy
Gold witnessed another round of extreme volatility today, plunging below the 3000 level before quickly rebounding. Since then, the price has repeatedly tested support in the 3030–3018 range. So far, this support zone has held up well, suggesting buyers remain active at lower levels.
However, traders should keep a close eye on the 3047 resistance area, which may temporarily cap upward momentum. In the short term, the overall strategy remains focused on buying at lower levels, with the potential for prices to revisit the 3080 region in the coming days.
That said, due to the sharp price swings recently, caution is advised for those looking to chase the rally above 3040. Unless your account has sufficient margin and risk tolerance to withstand a potential pullback toward the 3000 level, it is not recommended to enter aggressively at higher prices.
Trading Strategy Summary:
Bias: Short-term bullish (buy-the-dip)
Support zone: 3030–3018
Resistance: 3047 (short-term), 3080 (medium-term target)
Risk warning: Avoid chasing above 3040 unless risk control is well in place
Stay agile, and adjust your positions according to intraday price action. I will continue to provide real-time updates as the situation evolves.
