4700 point stable, new high is only a matter of time

The positive news continues, with the People's Bank of China increasing its gold holdings for the 18th consecutive month, strengthening the foundation for long-term gold price increases and highlighting gold's core value as a strategic reserve asset. Global geopolitical risks and uncertainties continue to ferment, combined with expectations of a Fed rate cut cycle, boosting demand for gold as a safe haven and for allocation.

From a technical perspective, although the KDJ indicator shows brief fluctuations, it remains in a bullish zone, with resistance near the upper Bollinger band at $4794 being likely to be broken. The current bullish trend is clear, and short-term pullbacks are opportunities for low entry; the upward potential has opened, and the market is likely to continue its strong upward trend.

Suggestions:
Pull back to around 4680-4700 to buy in batches, target 4750, 4800, with a break to watch 4850

Disclaimer: The above analysis is for reference only and does not constitute investment advice. Operate at your own risk.