Happy Labor Day to everyone

Hua Zai Gold Morning View:

The Federal Reserve decision has been implemented, maintaining interest rates and signaling a generally hawkish stance, the bearish factors have already been priced in, and when the bearish sentiment is fully digested, it becomes bullish.

Gold prices bottomed out at 4510 and then strongly reversed in a V-shape, with a violent rebound stabilizing above 4600, and the bullish momentum fully returning.

The ongoing Middle East geopolitical risk premium and continuous central bank gold purchases provide support, combined with technical oversold recovery, the upward trend for gold remains unchanged, and the downside is completely sealed off.

The market has completed its consolidation with oscillation, and the pullback is a good opportunity to buy on dips, with a clear bullish trend, follow the trend to steadily profit.

Trading suggestions:
Buy on dips in batches between 4550-4600,
Stop loss below 4500,

Target:
4650-4700
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