Spot gold broke above $3390, gold stocks rose in unison.

Gold stocks collectively rose, with Harmony Gold up over 3%, and American Gold Corporation, Gold Resources, and Esh Gold Industry all up over 2.5%. Gold Rose Gold and Barrick Gold rose more than 2%. On the news front, the rise in spot gold continued, breaking through $3390 per ounce. In addition, the Chief Investment Office of UBS Wealth Management released an institutional view stating that the US dollar has recently been oversold, and it is expected to consolidate for a period of time in the short term. Looking ahead to the medium term, the trend of a weak US dollar may reappear, and gold prices are likely to be supported by the "safe haven" demand and structural buying.