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Today’s gold price target: above $5,450
gold to dollar Pepperstone: XAUUSD
Today’s gold price target: above $5,450
Current strategy:
Purchase price: $5,381
Stop loss: $5360
Target price: above $5,400-5,450
The gold market was completely dominated by the sudden shift in geopolitical tensions.
Today’s sharp rise in gold prices is due to the escalation of military conflict between the United States and Iran over the weekend, and market logic has shifted to a purely “geopolitical” mode.
U.S. President Donald Trump said military operations against Iran “will continue with full force until all objectives are achieved,” which could last about four weeks.
In return, Iran promised to continue its response.
With the situation showing no signs of easing in the near future, the market has entered pure “geopolitical” mode, and gold prices are more likely to rise than to fall.
If the dispute continues, gold prices are expected to challenge the $5,800 or even $6,000 level.
Key support and resistance levels:
First support level: $5350-5370 (price recovers to lowest levels seen during today’s Asian trading session).
Key support: $5300-5320 (upper edge of spread and psychological level).
Strong support: $5,250 (previous high, key support after breakout).
First resistance level: $5400-5420 (rough numbers, today’s high).
Next goal: $5,500 (rough number, some institutional goals).
Trading strategy: follow the trend and avoid chasing highs.
As long as the price stays above $5,350.
Strategy: Maintain the bullish outlook and look for buying opportunities near support levels.
Process: If the gold price falls to the range of 5350-5370 US dollars and stabilizes, it is recommended to buy it slightly.
Stop loss orders should be placed below $5,300.
The first price target is $5,400-$5,420; a break above this level could lead to further gains to $5,500.
Key data this week: U.S. non-farm payrolls data for February released on Friday may weigh on gold prices after market sentiment improves.
Conclusion: The current gold market is booming and has entered a typical event-driven market structure.
