According to The Kobeissi Letter, gold recently broke above the $3400 level as predicted in their premium trading alert from one week ago, moving toward all-time high territory. This significant upward momentum has made long positions highly profitable, with the move attributed to strong demand and favorable macroeconomic trends (source: The Kobeissi Letter, thekobeissiletter.com/subscr). Traders should monitor gold's correlation with Bitcoin (BTC) and other digital assets, as gold's bullish breakout may influence safe-haven flows and impact cryptocurrency price action.