In the evening, gold plummeted sharply, breaking through the 4960 support and directly hitting the bottom support near 4850. When gold broke, Gu Ge indicated that gold would drop to 4850, which has been announced across the internet.
The current issue of concern still lies in the impact of geopolitical factors. The Strait of Hormuz, as a key transportation channel for oil, is currently closed, leading to high crude oil prices.
On the other hand, tonight's upcoming announcement of the Federal Reserve's interest rate decision has most of the market funds worried that the increase in oil prices will affect inflation rebounds. As a result, the Federal Reserve may not only refrain from cutting interest rates but might actually raise them, which will also increase the bearish sentiment for gold and worsen the bullish outlook for gold!
Therefore, gold has continuously shown a downward trend recently. However, in my view, the current environment still leans toward expectations of interest rate cuts from the Federal Reserve, and the likelihood of rate hikes is low. At most, it is probable that the interest rate decision will remain unchanged this evening, which will have a relatively small impact on gold and oil.
In the long run, the trend of gold is in a favorable environment. Regardless of the circumstances, as long as there are wars and global economic turmoil, the safe-haven sentiment for gold will drive prices up. However, in the short term, external factors may cause fluctuations leading to either a decline or an increase!
In the evening, gold stopped falling around 4850, which is good news. Relying on the support level ahead, this is also an important support point. In the short term, the market is likely to form a local bottom here. Therefore, for evening operations, I personally suggest buying in batches within the range of 4850–4830, with a stop loss around 4810 and a target of 4900.
Note: The article is time-sensitive, and market conditions change rapidly, so do not operate blindly. The above is purely personal sharing and does not constitute any investment advice; investing carries risks, and you bear your own profits and losses! Manage your own positions carefully!$XAU #XAUUSD #黄金下跌 #黄金 #投资 #黄金价格 #科学发现 #矿业 #经济 #贵金属
