Gold has broken below the key level of 3200

Before the U.S. trading session on Wednesday, spot gold saw a sharp short-term decline, plummeting by $50 in just 3 hours and breaking below the $3,200 mark.👉👉👉

Recently, the global financial markets have shown significant fluctuations due to tariff - related news. Over the weekend, China and the United States reached an agreement in Geneva to suspend the imposition of tariffs for 90 days. This news has effectively alleviated market concerns about a global economic recession, and global stock markets have risen in response, with risk - appetite sentiment heating up.

For short-term gold trading ideas, it's recommended to focus on shorting on rebounds and supplement with longing on pullbacks. Key short-term resistance to watch above is the 3200-3205 level, while key short-term support to focus on below is the 3150-3155 level.

XAUUSD trading strategy
sell @ 3200-3195
sl 3220
tp 3170-3175

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