Gold is no longer just a technical market; it is now priced by both geopolitical tensions and economic recession.
The conflict between the US and Iran continues to escalate, and the situation in the Middle East could spiral out of control at any moment; US economic data is weakening, and pressures in the banking system are emerging, leading to a continuous influx of safe-haven funds into precious metals. 5279 is indeed a high point, but the issue is that when the market begins to price in "war expectations," these high points could become new starting points.
If there are any more developments over the weekend, it is not ruled out that next Monday could see a direct gap up or even accelerated rises. A true deep pullback would require a cooling of risks, but there are clearly no signs of that at the moment.
Gold is becoming a barometer of global sentiment. Therefore, Liu Sheng believes that next week we should first look at 5500, and then consider other levels.
This wave of significant market movement is far from over. Friends interested in next week's gold market trends can come and chat.