Gold Morning Thoughts

Yesterday, the spot gold market experienced a rise and fall, with a strong morning attack that once approached the high point of 4602. Subsequently, the bulls weakened and began to retreat, further probing lower in the evening, reaching a low of 4486.

On the fundamental side, the geopolitical situation in the Middle East remains tense, with ongoing military actions from the US and Israel, causing market risk aversion sentiment to fluctuate; at the same time, US inflation and employment data expectations continue to impact the market, leading to increased short-term volatility in US Treasury yields and the US dollar index. The interplay of bullish and bearish news keeps gold prices predominantly in a weak oscillation in the short term.

From a technical perspective, the 4-hour chart shows that gold prices have broken through the middle band of the Bollinger Bands and are gradually launching an attack towards the upper band, with short-term moving averages forming a bullish support structure. Although the KDJ indicator is at a relatively high level, it still maintains an upward opening, indicating that the bulls have not completely receded. The current pullback seems more like a consolidation of strength during the upward trend rather than a trend reversal.

Operational Strategy:

Gold pullbacks in the 4490—4510 range can be bought in batches, with an upper target looking towards 4580, and a breakout target at 4650. #国际油价下跌 #特朗普称对伊战争已胜利 #特朗普缓和局势 #美国暂缓攻击伊朗发电站