Gold analysis: Prices will only get higher

Gold prices have reached a new high today. My recent bullish outlook on gold remains unchanged, driven by the three factors I've repeatedly emphasized: growing expectations for interest rate cuts, occasional trade tariff disruptions, and geopolitical tensions between Russia and Ukraine. These three factors have been fueling the market's upward trend. Whenever gold prices struggle, news emerges to pull them out of their rut and propel them to new heights.

The current trend is unstoppable, so there's no need to open short positions against the trend in the short term. A pullback isn't inevitable; it's possible that a slight sideways correction will occur before continuing to rise. Avoid entering positions against the trend when sentiment is high.

Last week, I consistently signaled a bullish outlook for gold and provided a very straightforward trading strategy: open long positions freely below 3400 points, maintaining a firm daily bullish outlook. If you haven't noticed my posts, you can review my recent posts.

Strategic Thinking: If you don't have any existing positions, don't rush to open a position. Wait for a suitable pullback before entering the market. If there isn't a pullback, don't open a position. This week is the first of the month, and economic data that will impact gold prices will be released intensively. This week's volatility is expected to be greater than last week's, and the risk factor is also relatively high. Failure to manage the market's timing can lead to losses. Therefore, caution is advised this week.

If the market pulls back to around 3490, consider opening a long position, targeting above 3500. If it breaks through, hold and raise the target.