Gold pullback support can be considered to buy again

Last Friday, Trump threatened to escalate the trade war again and suggested that a 50% tariff be imposed on the EU from June. As a result, safe-haven demand increased and gold rose to $3,365.

After a call with European Commission President von der Leyen, Trump said that the tariffs would be postponed until July 9. As a result, gold began to fall in the early trading, reaching a low of 3,323.

It can be seen that the tariff issue is still affecting the market. Since the tariff war, only the UK and the US have reached a trade agreement, and the rest have not been fully reached. A series of problems that may be caused in the future will increase safe-haven demand.

Therefore, as long as the callback is in place, I think it is an opportunity to buy again. At present, the support below can focus on the 3,320-3,330 area, followed by 3,300-3,310. The lower the retracement, the better. Only after the retracement can the short-term profit be maximized.

Today is a holiday in the United States. The US stock market is not open, and the volatility will not be too large. It is likely to be a volatile market, so today's trading should be closed when it is good.