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Gold surges like a rainbow, expected to break through the 5000 mark
On Friday night trading, gold hit a new all-time high again, with strong bullish momentum and a trend to break through the 5000 level in one go. As the global situation becomes increasingly chaotic, gold and silver prices are rising together. Gold prices are expected to challenge the 5000 mark, even reaching 5100 USD. Therefore, in a strong trend, the best approach is to follow the trend and go long at dips. Last Friday, 4960-4966 was a short-term resistance. The future strategy is to go long around this level, with a stop loss at 4946. Watch for resistance at the 5000-5004 level; a break above could lead to further gains near 5030. Be aware of the risks.
Buy around 4960 on January 26 (Monday), stop loss at 4946, take profit at 5000/5030
The above suggestions are for reference only and do not constitute trading advice. Investment involves risks; trade cautiously.
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