Market Analysis for Today

Gold now gathers extra steam and advances beyond the $3,340 mark per troy ounce on Wednesday, hitting all-time highs amid ongoing worries over escalating US-China trade tensions, a weaker US Dollar and lack of news from Powell's speech.

Donald Trump has taken a step to reassess levies on vital minerals after Beijing announced a non-tariff barrier on their exports by establishing a licensing system. Earlier this month, Beijing also imposed export restrictions on six heavy rare earth metals and rare earth magnets.

Gold opened at around 3230 and rose to around 3261 at the highest and around 3229 at the lowest before press time.Pay attention to the resistance of 3370-3380-3390 If it fais to break through, it will test 3390-3290-3280