Yichen: Cliff Dive! Gold Pierces Key Support, Bears' Feast Begins!

From a news perspective, Federal Reserve Chair Powell's latest remarks have reinforced the stance of "no rate cuts before inflation recedes," combined with US core inflation data exceeding expectations, the market is reassessing the monetary tightening path. US Treasury yields and the dollar index are strengthening in tandem, directly suppressing the valuation of non-yielding assets like gold. Meanwhile, although geopolitical conflicts in the Middle East continue to simmer, safe-haven funds have shifted from gold to high-yield US Treasuries. SPDR Gold ETF has experienced consecutive daily net outflows, and institutional profit-taking at high levels has intensified selling pressure.

From a technical perspective, gold price has broken through the lower band of Bollinger Bands, MACD histogram continues to expand downward, and the four-hour downtrend is clear. In the short term, the 4450-4470 USD range will become key support. If effectively breached, gold price may further test 4300 USD; if it stabilizes on a rebound, attention should be paid to rebound resistance near 4600 USD.

Suggestions:
Enter gradually near the 4520-4550 rebound, targets at 4450, 4400, watch 4300 on breakdown.

Disclaimer: The above analysis is for reference only and does not constitute investment advice. Investors bear the risk of trading based on this information. $XAU