April 30 Evening Gold Silk Road

London Gold continues the overall weak oscillation pattern after the Federal Reserve's interest rate decision, with the market consolidating within a narrow range to digest overnight bearish sentiment. Bulls and bears are temporarily balanced, but the overall trend favors a bearish correction at lower levels, with no clear rebound momentum.

On the news front, last night the Federal Reserve kept interest rates unchanged, but internal voting disagreements hit a multi-decade high, highlighting hawkish voices. Coupled with rising U.S. Treasury yields and the dollar index strengthening simultaneously, expectations for rate cuts have significantly cooled, directly suppressing gold prices. The safe-haven support from Middle Eastern geopolitical risks is relatively weak and unable to offset the macroeconomic bearish pressure. Tonight, the U.S. PCE core inflation data will be a key catalyst for the market. If the data is strong, it will further reinforce high-interest rate expectations and increase downward pressure on gold prices.

From a technical perspective, a death cross has formed on the daily chart, indicating a clear downward trend structure. The four-hour chart shows prices closely following the downward channel. Short-term bearish momentum has not been fully released. Early morning resistance is concentrated around 4580-4600, with initial support at 4550. The key strong support is at 4510, which is the overnight low. If broken, it could open up a larger downside space.

Trading Suggestions
Operate mainly with steady short positions, supplemented by long positions at lower levels. Consider shorting on rebounds to 4570-4585, with a stop loss at 4605. The first target is 4550, and if broken, look toward 4510.