April 21st, Afternoon Gold Market Outlook

Gold surged to 4833 before the rally significantly slowed down, consecutively breaking below key support levels, with a low of 4775, a daily decline of over 60 points, currently consolidating around 4785.

This round of correction mostly aligns with expectations: the strengthening of the US dollar and US Treasury yields exert pressure on gold prices, combined with ongoing debates over Federal Reserve rate cuts and a cooling of geopolitical risk sentiment, while long positions at low levels have been largely taken profits and exited, further amplifying the downward space.

The short-term technical outlook is weak, with gold prices retreating along moving averages, Bollinger Bands opening downward, and prices operating along the lower band.

The key support below is at 4785; if it is effectively broken, the target could be 4760. Resistance to rebound is concentrated in the 4810-4820 range; a firm hold above this zone could temporarily slow the decline.

Trading strategy: Gradually build long positions in the 4770-4790 range, with an initial target of 4800; upon breaking through, look for further gains above 4830. #现货黄金