Iranian Military Adviser Killed in Israeli Airstrike, Potentially Paving the Way for Further Gold Price Increase

On June 3, gold price surged by over $20, as weak U.S. PMI data led to a softer dollar and lower U.S. Treasury yields, bolstering gold prices. Additionally, geopolitical tensions attracted safe-haven buying in gold. Reports indicate that on June 3, local time, an Iranian Islamic Revolutionary Guard Corps advisor stationed in Syria, Saeed Abuyer, was killed in an Israeli airstrike on Aleppo, Syria, in the early hours.

Trading Strategy:

1. Long position at 2338.0 on retracement, stop loss at 2333.0, rebound target: 2349.0—2365.0.
2. Short position at first touch of 2365.0, stop loss at 2371.0, downward target: 2348.0.
3. Bullish outlook upon price breaking 2372.0, target: 2380.0—2396.0.