4.30 Evening Gold Silk Road

Throughout the day, gold overall maintains a choppy upward movement. In the early session, gold prices quickly stabilize after dropping to the lows, then rise steadily. In the afternoon, bullish momentum is further released. The market pushes up to the 4646 level, touches the intraday high, and then slips back slightly under mild pressure. The current quotation is around 4630. The overall bullish structure remains unchanged. In the short term, the market faces a small profit-taking and pullback adjustment.

On the news front, the overall market trading sentiment is relatively cautious. The US Dollar Index (DXY) edges down slightly during the day, providing a favorable support for gold’s outlook. In addition, as the market awaits the release of subsequent key economic data, safe-haven demand has shown some recovery, further underpinning gold prices and limiting the space for a deep pullback.

From a technical perspective, after gold successfully breaks above the prior ranging range, it enters a high-level sideways consolidation phase. In the short term, key resistance is around the 4646 area, while support at 4605 remains firm. The period moving averages are arranged upward overall, and the medium-term uptrend for gold remains intact. However, short-term indicators show an overbought condition, and the market may have a technical pullback requirement. Therefore, it is important to act cautiously and avoid chasing highs.

Operation Recommendations
On a rebound to around 4640—4600, consider buying.
Targets are around 4615—4550.
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