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Trading Strategy for April 2nd
Gold prices have resumed an upward trend after breaking through key resistance levels. Clients may consider the following strategy:
- Buy Zone: $3,122 - $3,125- Absolute Stop Loss: $3,115- Take Profit Targets: $3,135 - $3,148 - $3,156
Gold's just hit $3,150—and that buy zone at $3,122-3,125 feels pretty low. That $3,115 stop loss is going to be awfully tight in this kind of volatile market—especially with Trump's tariff news driving prices.
I think it makes more sense to scale in. Buy some now around $3,130-3,140, and add to that position if it dips towards $3,100. This bull trend has some serious momentum behind it.
You don't have to cap your profits so quickly during all-time highs. Let some of your position run instead of taking full profits at $3,156. Why sell too soon? Gold mining stocks are worth a look too. They offer that leverage to gold prices—and sometimes dividends while you wait.
The narrative for gold has flipped.
