In the early Asian market on Monday (April 21), the spot gold price soared. The gold price just hit $3,376.62/ounce, a record high, and the gold price rose by more than $50 during the day. Trump's "golden words" and Powell's "dismissal theory" jointly detonated the market. US President Trump made a shocking statement earlier. Trump published his insights on negotiations on his social media platform, saying that "the golden rule of negotiation and success: those who have gold make the rules", that is, whoever has gold dominates.

As the US-led trade war supported demand for safe-haven assets and the dollar weakened, gold prices rose to record highs. Data released in the next few days may highlight early signs of damage to the global economy. This year, trade conflicts have disrupted global markets, hit the appetite for risky assets, and accelerated the wave of investors flocking to safe-haven assets, and gold prices have repeatedly hit new highs. Over the past 12 weeks, gold ETF holdings have continued to grow, the longest streak since 2022. Central banks have also been increasing their holdings of gold, supporting strong global demand.

From the weekly level of spot gold, the international gold price last week continued its strong pace, further opening up the space above. Considering the obvious pressure at present, it is necessary to look at it as an integer. The next position will be 3350 or even 3400. However, the short-term moving average group at this stage has a deviation phenomenon, which is far away from the current price. Therefore, it is also necessary to guard against the possibility of correction. At the beginning of the week, it is recommended to pay attention to the operation of the 3300-3350 range.

From the daily level of spot gold, due to the holiday market closure, the gold price has a certain long profit-taking phenomenon at a high level, but in fact, the room for decline is not large, which is a relatively normal correction market, and the short-term moving average group is gradually approaching, and the market outlook will also provide obvious support and protection. Therefore, it is not ruled out that it will continue to maintain a strong upward rhythm. In terms of operation, it is still recommended to buy on dips, which is more stable. Pressure: 3330-3338-3350 Support: 3315-3308-3300.

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.