Information Summary:
Rising expectations of a Federal Reserve rate cut, coupled with growing market concerns about the independence of the US central bank, have fueled increased safe-haven demand for precious metals. Since 2025, gold prices have risen by over 30%, making it one of the best-performing major safe-haven commodities.
On Tuesday, gold prices surged again in the US market, influenced by the ISM manufacturing PMI data. After hitting a new high of 3508 in the Asian session, they reached another all-time high, now exceeding 3520.
Market Analysis:
Looking at the hourly chart, Tuesday’s Asian session broke a cycle. For the past two weeks, the Asian session has tended to see a dip after opening, followed by a sharp rebound. Tuesday morning, the market surged $30, reaching a new all-time high. Finally, it faced pressure around 3510 in the European session before retreating slightly. The European session’s price decline was due to the UK fiscal crisis. The British pound plummeted sharply in the short term, driving the US dollar higher, which in turn depressed gold prices. However, the dollar has continued to rise, while gold has not fallen much. The US itself is facing a debt crisis, so gold remains the ultimate safe haven.
Currently, the market is focusing on the important support level of 3475, followed by 3465. Stabilization above these support levels could lead to a renewed push above 3500.
Trading Recommendations:
Short around 3530, stop loss at 3540, with a profit range of 3490-3480-3470.
Long around 3470, stop loss at 3460, with a profit range of 3500. Hold the position after a breakout.
