Gold could reach 3420 today

📌 Gold Drivers

Gold prices (XAU/USD) retreated slightly from intraday highs near two-week highs hit during the Asian session on Tuesday, but still held steady near $3,360, extending gains for a second day in a row. Improved U.S. economic data helped ease market concerns about a recession, providing mild support for the dollar. At the same time, signs that Sino-U.S. trade tensions may ease curbed gold's safe-haven demand, prompting some investors to take a wait-and-see approach ahead of the much-anticipated two-day Federal Open Market Committee (FOMC) policy meeting.

The Trump administration's imposition of tariffs of up to 25% or even 100% on semiconductors will further disrupt the global semiconductor supply chain, forcing many semiconductor manufacturers to look for alternative sources of supply or manufacture in the United States.



📊Comment Analysis

Bulls regained their dominance, and the upward trend approached 3400 before the market expected a rate cut

💰Strategy Set

🔥Sell Gold Area: 3418-3420 SL 3425
TP1: $3410
TP2: $3400
TP3: $3385

🔥Buy Gold Area: $3323 - $3321 SL $3316
TP1: $3330
TP2: $3340
TP3: $3358

⭐️ Note: Labaron hopes that traders can properly manage their funds

- Choose the number of lots that matches your funds

- Profit is 4-7% of the fund account

- Stop loss is 1-3% of the fund account