Market morning summary

Overnight precious metals stayed strong and spot gold hit a new record high. Supported by continued buying and safe-haven demand, gold reached a high of $3,646.50/oz and closed at $3,635.75/oz. This morning it is trading narrowly near the record level, around $3,628.00/oz.

Key factors

- Safe-haven support: Ongoing concerns about global trade policy and geopolitical risks, together with differences between the Trump administration and the Fed, are lifting gold demand.

- Money flows and sentiment: Bullish capital keeps flowing in. Positive technicals are boosting market sentiment and pushing prices to new highs.

- Strong technical structure: Gold remains at historical highs and the overall technical picture is strong, but a short-term technical consolidation is likely.

Morning trading strategy guide

Gold (XAU/USD)

- Range: $3,627.00 – $3,646.00/oz

- Approach: Buy low and sell high within the range; use light positions.

Breakout rules:

- If price falls below $3,627.00, it may test $3,617.00 and $3,607.00. Consider following the downtrend with short positions. Stop loss: $3,632.00.

- If price breaks above $3,646.00, it may test $3,656.00 and $3,666.00. Consider following the uptrend with long positions. Stop loss: $3,641.00.

Silver (XAG/USD)

- Range: $41.130 – $41.660

- Approach: Buy low and sell high within the range.

Breakout rules:

- If price falls below $41.130, targets are $40.700 and $40.300. Consider short positions. Stop loss: $41.330.

- If price breaks above $41.660, targets are $41.900 and $42.300. Consider long positions. Stop loss: $41.460.

Risk warning

Markets are unpredictable and you can lose money. This information is for reference only and is not investment advice. Make your own decisions based on your risk tolerance.