According to The Kobeissi Letter, a premium buy alert for gold was issued on Friday at the $3255 level, and those long positions have already turned profitable with a $130 price increase today (Source: The Kobeissi Letter Twitter, May 6, 2025). This trading signal indicates strong bullish momentum in the gold market, providing actionable insights for traders focusing on breakout strategies and momentum trading in precious metals.

According to The Kobeissi Letter, gold prices have surged above $3,300 per ounce, continuing an aggressive rally even as the S&P 500 has climbed 17% from its April 7th low (source: @KobeissiLetter, Twitter, May 5, 2025). Notably, the gold ETF $GLD has outperformed the S&P 500 by 35 percentage points since 2020. This significant outperformance highlights strong investor demand for gold as a hedge, signaling potential momentum for trend-following traders and reinforcing gold's role as a safe haven asset in diversified portfolios (source: @KobeissiLetter, Twitter). Traders should monitor gold price action for potential breakout opportunities and consider the ongoing strength relative to equity markets.