April 30, 2026 Spot Gold Morning Analysis

Good morning everyone, here is a brief overview of the morning spot gold market. Overnight, influenced by the Federal Reserve's hawkish remarks, the US dollar and US Treasury yields strengthened, putting pressure on gold prices and causing them to weaken. Overall, the market shows a bearish dominance, with the daily chart continuing its weak decline trend, and short-term momentum leaning towards weakness.

The Federal Reserve signals that high interest rates will be maintained for a longer period, delaying rate cuts, which is directly negative for gold prices; although there is tension in the Middle East, safe-haven support is limited and cannot offset the pressure from a strengthening dollar. Meanwhile, gold ETFs continue to reduce holdings, and market sentiment favors bears.

The market highs keep moving lower, with moving averages showing a bearish alignment. Key resistance is at the 4560-4580 range, while short-term support is at 4510-4500. If support is broken, further declines are expected.

In terms of trading, the strategy this morning is mainly to short on rebounds. When prices rebound to resistance zones of 4560-4580, consider entering short positions; targets are set at 4530 and 4510. If support levels are tested and hold, a small long position can be taken for quick entry and exit.

Before the holiday, market liquidity is relatively weak, and volatility may increase. Be sure to strictly set stop-losses, control position sizes, and trade cautiously.

The above is only personal advice for reference and does not constitute investment advice. Please follow Cheng Jingsheng's and Shi Pan's layout for specific strategies! $XAUUSD ‌#XAU