3.27 Gold Market Analysis
On March 26, spot gold surged and then plummeted, showing a one-sided weakening trend. The morning session saw high volatility, followed by a continuous drop in the afternoon, with the evening losses widening. London gold hit a low of 4351, with a daily decline of over 2%. Domestic gold prices fell in tandem, completely breaking the previous high volatility pattern, and the bullish trend faced a severe setback.
Core Negative Factors
1. Federal Reserve Policy Expectations: After the March interest rate meeting, market expectations for rate cuts this year significantly cooled, dropping from 3 times to 1 time. Rate cuts may be further delayed, with the dollar and U.S. Treasury yields rising, directly suppressing gold prices.
2. Diminishing Risk Aversion: The safe-haven demand due to geopolitical conflicts in the Middle East has weakened, causing gold to lose its safe-haven support, leading to further declines.
Technical Analysis
Gold prices directly broke below the key support level of 4400 yesterday, with daily moving averages in a bearish arrangement. The KDJ and MACD indicators are both trending downward, establishing a short-term bearish trend.
• Support below: 4300 level; breaking this will lead to further declines.
• Resistance above: 4480 USD; difficult to quickly recover in the short term.
Morning Trading Suggestions
Morning gold prices remain weak, likely maintaining a downward trend. Long positions should be handled with caution!
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