The gold price target on Monday continued to be 3400.

The gold price target on Monday continued to be 3400.

As Friday was a Jesus holiday, the international gold market was closed yesterday.

In the early hours of Thursday, Fed Chairman Powell released a signal of "maintaining interest rates unchanged" at the monetary policy meeting, triggering short-term fluctuations in the gold market.

After hitting a new high of $3357/ounce, the gold price fell back and once reached a low of $3284, but was affected by the weakening of the US dollar and the escalation of trade tensions, and finally closed at $3327.

Factors such as global economic uncertainty and geopolitical risks continue to support the safe-haven demand for gold. The Fed's position of suspending interest rate hikes further strengthens the logic of gold's rise.

Gold 4-hour level: bullish power remains strong.

In the short term, the gold price may fluctuate and consolidate in the range of 3290-3350.

$3350 will become a short-term bull resistance level, while the $3300 mark is the watershed between long and short games.

If the gold price can hold steady at $3,300, it is expected to test $3,357 again, or even hit $3,400. On the contrary, if the gold price falls below $3,300, it may fall to the support level near $3,250.

Operation suggestions are as follows:
Only consider long strategies above $3,300
Stop loss: 3,290
Target: 3,350-3,400

Reject short selling in the short term