January 13th Gold Morning Outlook

The news has provided plenty of imagination space. The debate over the Federal Reserve's independence continues, but market expectations for rate cuts are not significantly different—expectations for a rate cut in March remain solid, and the overall downward trend in real interest rates continues, which is very favorable for the upward movement of gold prices. Additionally, the global situation is quite tense, with tensions in Iran continuing to escalate, and the US increasing its actions against Venezuela. Safe-haven sentiment remains high, and funds are primarily flowing into gold.

From a technical perspective, although gold prices have pulled back, they have held above the 4562 level, and the bullish moving average alignment remains intact. While a death cross has appeared on the MACD, the green histogram energy is limited, indicating a short-term adjustment is needed. However, the overall bullish trend remains undamaged. During this morning, the 4560-4580 range is a significant support zone worth paying attention to.

Trading perspective: buy on dips. If gold pulls back to the 4545-4555 area, that is the entry point, with a stop-loss below 4540. The targets above are the integers 4610 and 4630.