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Market core news (one sentence summary)
The Federal Reserve is definitely not raising interest rates tonight, but the tone is hawkish.
Time: 2:00 AM decision, 2:30 AM Powell press conference
Market pricing: Almost zero probability of a rate cut in June, first cut delayed until September, only one rate cut expected for the year.
Impact on gold: Higher interest rates for longer → stronger dollar, higher U.S. Treasury yields → negative for gold.
Already broke down and plummeted yesterday, trend completely turned bearish.
Yesterday (4/28): Dropped $95 sharply, closed with a large bearish candle, broke through 4600 directly, lowest at 4554.
Daily chart: Broke below 5/10 moving averages, bearish alignment, MACD death cross, trend turned bearish.
Today during the white session: Weak rebound, no reversal, just a consolidation after decline.
Morning session: Opened at 4594, surged to 4609 then pressed down.
Afternoon: Lowest at 4556, now rebounding to around 4580, a weak retracement after a big drop, weak volume, no strength to break above 4620.
One sentence conclusion: Fundamental bearish signals + technical breakdown + weak rebound in the white session = tonight’s main trend: bearish, expecting new lows, rebound is a shorting opportunity.