Fundamental Analysis - Gold prices have surged strongly, stabilizing above the historical $3,500 mark, continuing a bullish trend due to the contraction in U.S. manufacturing for six consecutive months, escalating tariff disputes, and strong expectations for Federal Reserve rate cuts [1] - The latest data shows that the manufacturing Purchasing Managers' Index (PMI) rose slightly from 48.0 in July to 48.7 in August, but remains below the neutral 50 mark, indicating ongoing contraction in the manufacturing sector, which constitutes about 10.2% of the U.S. economy [1] - The uncertainty surrounding tariff policies has intensified, with a U.S. appeals court ruling that most of the Trump administration's tariff measures are illegal, although these tariffs will remain in effect until October 14 [1] Technical Analysis - The gold price is showing a strong upward trend with higher lows, indicating a robust bullish momentum, as evidenced by the recent historical highs [3] - The MACD indicator suggests that bullish forces are dominating the market, with the fast and slow lines operating above the zero line [3] Trading Strategy - For gold, a long position is suggested at $3,512.0 with a stop loss at $3,500.0 and targets set at $3,525.0 and $3,565.0 [4] - For silver, a long position is recommended at $40.45 with a stop loss at $40.25 and targets at $40.85 and $41.20 [6] Market News - The market is anticipating several key economic indicators and speeches, including the European Central Bank President Lagarde's speech and various PMI data releases from France, Germany, and the Eurozone [8]