Gold Intraday Analysis

Gold opened with a gap down in the morning, with short-term bearish momentum concentrated release, and the market is showing weak oscillation. Short-term bearish sentiment is intensifying, but avoid blindly chasing short positions. The strong support at 4650 remains solid, and the intraday strategy is to rely on support levels for range correction and rebound.

The risk aversion sentiment has eased on the news front, with the US dollar and US Treasury yields slightly rising, putting short-term pressure on gold prices. However, ongoing tensions in the Middle East, combined with multiple central banks continuing to buy gold, maintain the medium- to long-term bullish logic. Short-term bearish momentum is unlikely to sustain a deep decline.

Technical analysis shows gold prices moving sideways with oscillation, and the four-hour indicators are oversold, with bearish momentum continuously weakening. Focus on the 4650 support and the 4720-4750 resistance levels today, with trading strategies centered around buying low and selling high within the range.

Trading Suggestions:

Short at 4730-4740 on rebounds, with targets at 4680-4660.

Buy on dips at 4650 with a view to a rebound to 4700-4730.