Gold market breaks out! Gold prices rise!GoldOANDA:XAUUSDFinancialfreedom11Market News: On Tuesday (August 26), gold prices fell another 0.4% to $3,351 per ounce in early Asian trading. Trump subsequently announced his decision to remove Federal Reserve Governor Tim Cook from her position at the Fed due to allegations that she falsified mortgage application documents. The US dollar index plunged on this news, while spot gold prices surged to $3,386, a significant gain! While Powell's speech reinforced the possibility of a rate cut, it also left room for uncertainty. In particular, if subsequent data indicates a rebound in inflation or unexpectedly strong employment, the Fed may choose to remain on hold. This uncertainty is putting pressure on London gold prices in the short term. However, in the medium to long term, if a rate cut materializes, gold's appeal as a non-interest-bearing asset will further increase, potentially offering significant upside potential. While the short-term decline in international gold prices was dragged down by a strong dollar and policy uncertainty, expectations of a Fed rate cut remain firmly rooted. The PCE data and the non-farm payroll report will be a turning point. Meanwhile, geopolitical factors such as the US-China trade dispute are also escalating. US President Trump's tariff threats are further roiling market sentiment, potentially boosting gold's safe-haven premium. Technical Analysis: After dipping in early trading, gold rallied again on safe-haven demand. Trump is a savior for gold buying, constantly stirring up trouble, prompting a rally in gold prices and continuing buying. Gold buying is currently gaining momentum, and dips present opportunities for further buying. Gold surged sharply in the Asian session due to the risk-off factor. Patiently wait for a correction before continuing to sell. Gold has strong short-term support near 3350. Powell's dovish tone led to a clear swing low on Friday. A sustained rebound will require milder PCE inflation data and weaker employment data. The current market remains volatile and sideways, so buying on pullbacks remains the primary strategy. Gold's 1-hour moving average continues to form a golden cross and upward buying pattern. Gold's 1-hour bullish trend still has upward momentum. Buying gold now means holding onto the 3350 level. Buying gold will soar. If gold falls back above 3350 intraday, continue buying on dips. Gold buying will continue to gain momentum. Trading Strategy: Short-term gold buy at 3357-3360, stop loss at 3348, target at 3380-3400; Short-term gold sell at 3397-3400, stop loss at 3409, target at 3360-3340; Key Points: First Support Level: 3360, Second Support Level: 3342, Third Support Level: 3333 First Resistance Level: 3388, Second Resistance Level: 3400, Third Resistance Level: 3413