January 16 Gold Morning Review: Bulls Sound the Charge, Targeting 4680!

Gold opened yesterday and repeatedly tested the 4625 resistance level. The support at 4580 below was exceptionally strong. During the evening session, it continued to rise from the lows with a strong upward momentum. The bullish force is continuously accumulating, laying a solid foundation for today's rally.

This morning, gold opened with a sharp rise, directly testing 4620. This "good start" action has set the main theme for today — bullish dominance!

High expectations of rate cuts remain: Market expectations for the Federal Reserve to cut rates in 2026 continue to heat up, becoming the strongest driver of gold price increases.

Geopolitical risks loom: Tensions in the Middle East, Russia-Ukraine, and other geopolitical situations provide continuous safe-haven buying for gold.

Central bank gold purchases support: Global central banks continue to increase their gold holdings, demonstrating long-term confidence in gold and providing solid support for the price.

First support level: Go long around the 4608-4600 range, with a stop loss at 4598, targeting 4620. After breaking through, continue upward to 4640.

Second support level: If retesting the 4590-4580 range, decisively add positions to go long, with a stop loss at 4575, targeting directly at 4620-4640. A strong breakout could push towards 4680!

Risk reminder: The market carries risks; investment should be cautious. The above suggestions are for reference only and do not constitute investment advice.