Wen Jie April 30 Gold Morning Review


Overnight spot gold faced selling pressure and retreated, losing the key level of 4600, with a low of 4509, stabilizing around 4550 in the early session, maintaining a generally weak oscillation pattern, with gold T+D moving lower in tandem.
The Federal Reserve's hawkish tone remains unchanged, with expectations of rate cuts continuing to cool down, the US dollar and US Treasury yields both rising, strongly suppressing gold prices; although Middle Eastern geopolitical conflicts provide some safe-haven support, the strength is limited and cannot offset the negative impact, so short-term bears are favored.
The daily chart shows a clear bearish trend, with relatively strong resistance during rebounds.
Resistance above: 4560-4580
Support below: 4510-4500, strong support at 4480
Trading suggestions
Sell in parts on rebounds to 4560-4580, stop loss at 4597, target 4530-4510#现货黄金 $XAUT
XAUT-0.39%
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