April 28 Evening Gold Market Latest Analysis

Today’s spot gold price action was extremely volatile. After surging to a high of 4701 in the early session, it then plunged in a one-way selloff. The price stayed weak throughout the day; into the close, the decline accelerated into a further drop, with a low of 4555. The intraday fall exceeded $140. The bulls were completely defeated, and panic selling intensified.

From the news perspective, the U.S. Federal Reserve’s April FOMC meeting is just around the corner. Officials have been repeatedly sending hawkish signals. The market has pushed back rate-cut expectations significantly, with less than a 40% chance of a rate cut occurring within the year. The U.S. dollar and U.S. Treasury yields have risen in tandem, increasing the cost of holding gold. Combined with the fading of safe-haven sentiment and capital outflows, this further weighs on gold prices.

On the technical side, the 15-minute timeframe shows a one-way bearish trend. The moving averages are aligned bearishly, and the Bollinger Bands are opening downward. It has broken below the key support levels at 4650 and 4600. Although indicators are oversold, there is no obvious signal of a rebound or reversal. Pay attention to support at 4550–4560 below, and resistance at 4600 above.

Trading reference: For a light position, short on a rebound in the 4580–4595 range. Targets are 4550–4530; if the level breaks, look for 4500.#伊朗提出霍尔木兹海峡重开协议条件 $XAUT