The price of gold hit an all-time high, rising for the sixth consecutive session due to tariff uncertainty and expectations of a Fed interest rate cut. A potential continuation move higher is supported by a symmetrical triangle breakout, with a bullish price target of $3,930 per ounce.

A U.S. federal appeals court ruled against most of Trump’s reciprocal tariffs, raising trade concerns. Investors anticipate the Fed’s potential rate cut, boosting gold’s appeal. The August jobs report release will influence short-term sentiment in the precious metal.

Spot gold reached $3,540 an ounce, up 1.8%, and has risen 35% this year. Central bank buying, Middle East tensions, and economic uncertainty have supported the precious metal’s climb. Increasing trading volume indicates heightened investor interest in gold.

The measured move technique forecasts a bullish target of $3,930 if gold continues to rise. Key support levels to monitor during pullbacks are $3,430 and $3,150. The symmetrical triangle breakout suggests a possible continuation move higher.

Read more at Yahoo Finance: Key Price Levels Investors Need to Monitor