Gold prices rise above $5,300 as investors seek safety

Gold has once again emerged as a safe haven for global investment funds amid ongoing economic uncertainty and geopolitical risks. Spot gold prices opened higher on Tuesday and continued to rise steadily, with brief fluctuations after breaking through the $5,080 mark. It then rose strongly during the US trading session, hitting a new high, breaking through $5,190, and finally closed up 3.41% to $5,179.40 per ounce.

Gold prices rose 3.4% the previous day, the largest one-day gain since April, highlighting a fundamental shift in market sentiment. Gold prices have risen more than 19% since the beginning of the year, and looking ahead to 2025, their annual gains are expected to reach a staggering 64%. As financial market volatility intensifies and the international situation is turbulent, investors have accelerated their investment in safe-haven assets such as gold, resulting in strong demand for gold. It is worth noting that uncertainty about U.S. foreign policy has exacerbated risk aversion in the market.

Technical analysis: Invincible momentum, target $5,300! 📈 Technically, the resistance level of gold prices has almost disappeared, and key psychological levels have been broken one after another, indicating that the bullish momentum is very strong. Currently, the next major target is the $5,300 level. A big positive line appeared on the 4-hour chart, completely breaking through the early technical resistance level and showing a sharp upward trend. The trend force has completely taken control of the market, and continuing to be optimistic about gold is undoubtedly the best choice to follow this trend.

Although gold’s bullish momentum continued during the session, investors chasing the gains were hesitant due to rising prices, while bears were cautious, leaving market sentiment in a dilemma. After gold prices stabilized above $5,200 in early trading, they resumed their upward trend and are currently in an accelerated upward phase. Any minor pullback could represent an entry opportunity before strong bullish sentiment subsides. During the European trading session, pay close attention to the $5230-5240 support area; buying on dips is still the main strategy.

Focus: Fed resolution and Powell’s speech! 🎤Tonight, the market will witness the Federal Reserve’s interest rate decision. While maintaining current prices is the most likely scenario, Powell’s speech will be crucial in influencing market volatility. Any precise statement on monetary policy expectations could trigger a new round of gold price volatility. Investors must remain alert and ready to adapt to any potential changes in market sentiment.

Trading Tip: Go with the trend, don’t resist it! 💡Buying strategy: When the gold price drops to around 5230-5240, consider opening a long position, set the stop loss at 5210, and set the profit target at 5320. If the price crosses this level, the position is taken.

The market is rising and the trend is obvious. If you don’t follow this trend, you will not benefit from this wave! ✨

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