Gold's bullish momentum remained exceptionally strong on August 24th, with prices climbing steadily higher in recent sessions. The upward trend shows no signs of exhaustion, and any pullback should be viewed as an opportunity to establish long positions. Staying with the trend is crucial—trading with the trend feels effortless, while fighting it leads to unnecessary complications. As consistently emphasized, dips are buying opportunities, and breaking new highs warrants adding to long positions.

Last Friday, the strategy was clear: once gold held above the 4500 level, a slight pullback using the 4500 mark as support justified going long. Now, with gold trading above the 4600 dollar level today, how should traders respond? Without question, staying long above the 4600 threshold remains the play. This scenario feels familiar—it mirrors the earlier approach where each time gold conquered a new hundred-dollar milestone, the strategy was to actively pursue long positions for continued upside extension. Following this logic, breaking above 4700 would invite further longs, and surpassing 4800 would call for even more buying.

Let's cut to the chase: today's question is simply where to initiate longs. Whether the market corrects through time or price, the focus remains on how to position long, never on shorting against the trend. Today's early morning low sits near the 4594 level, which serves as a critical indicator for whether gold maintains its strong bullish stance at the start of the week. Using this as defensive support, the plan is to go long above the 4600 mark. If the afternoon session sees strong consolidation instead of a pullback correction, then the 4600 defense remains intact and warrants continued longs. The upside target is 4656, and a break above this level signals further upward momentum, at which point the 4630 area would be a suitable zone to add more long positions.

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