In the past two days, gold and silver have rebounded sharply, just because Trump said he would pause the war for a month and mentioned 15 negotiation conditions.
This rebound is actually a normal recovery after being oversold, and it does not prove that the adjustment has ended!
First of all, Trump is unpredictable, so be cautious with your operations. Gold has risen by $500/ounce, and the next likely scenario is to consolidate, digest the gains, and then attempt to explore 4700.
If it cannot hold 4500, it will likely retest the low point of 4100. If there are any more twists in the US-Iran negotiations, it could really blow up.
Looking further ahead, I still expect gold to reach 4,700 or 4,800 in April. However, this position has also accumulated a lot of profit-taking and short-term traders, so selling pressure will be very heavy.
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