According to The Kobeissi Letter, gold prices have surged for the second consecutive day, increasing by another 1.5% and approaching $3,400 per ounce (source: The Kobeissi Letter, May 6, 2025). This momentum signals strong bullish sentiment in the precious metals market, attracting traders seeking safe-haven assets during market volatility. Technical indicators now show overbought conditions, suggesting potential short-term resistance near the $3,400 level. Traders are closely monitoring volume and macroeconomic drivers, as further moves above $3,400 could trigger breakout trading strategies or profit-taking (source: The Kobeissi Letter).