On Monday (April 14), spot gold suddenly soared by $30 in the short term, and the price of gold just hit $3245.74/ounce, setting a record high. The news that the United States suspended reciprocal tariffs on smartphones, computers and other electronic products last weekend caused gold prices to fall after the opening. However, US President Trump made a latest speech that he will announce the tariff rate for semiconductors in the next week. In addition, the semiconductor tariff will take effect in the near future. Gold prices soared.

So far this year, gold prices have risen by more than 20% as investors flock to safe-haven assets. Trump's rapidly evolving trade policies have triggered concerns about a global recession, causing sharp fluctuations in the US stock market, bond market and the US dollar.

From the weekly level of spot gold, the increase in gold prices last week was amazing. It not only repaired the previous decline space, but also released huge energy, and finally recorded a super big positive line. The price has come above the 3200 mark. Such an exaggerated rise will inevitably lead to the inability of the moving average to keep up with the rhythm. Therefore, although a long arrangement has been formed, there is still a phenomenon of deviation. Therefore, it may be necessary to guard against shock corrections at the beginning of the week.

From the daily level of spot gold, after continuous strong positive lines, the current upward trend has been perfectly continued, and the highs are still creating history. Therefore, it is believed that the bulls will still dominate in the future. At this stage, the moving average group shows a long arrangement, and the MACD indicator is also in a golden cross state. Therefore, it is recommended to buy more on dips, but be cautious in chasing more at high levels to guard against the phenomenon of profit-taking at any time. Pressure: 3245-3260-3270 Support: 3230-3220-3210.

Disclaimer: The article is contributed by the market analyst from Bitop market observation team. The content is solely for personal opinions and sharing. The analysis is time-sensitive and provided for reference and discussion only. It does not constitute any investment advice. The market is risky, so investing should be done cautiously.