4700 level firmly secured, new highs are only a matter of time

The positive news continues, with the Chinese central bank increasing gold holdings for the 18th consecutive month, strengthening the foundation for long-term gold price increases and highlighting gold's core value as a strategic reserve asset. Global geopolitical risks and uncertainties continue to ferment, combined with expectations of a Fed rate cut cycle, boosting demand for gold as a safe haven and investment asset.

From a technical perspective, although the KDJ indicator shows brief fluctuations, it remains in a bullish zone, and the resistance near the upper Bollinger Band at $4,794 is likely to be broken. The current bullish trend is clear, and short-term pullbacks present buying opportunities. The upward potential has opened, and the market is likely to continue its strong upward trajectory.

Suggestions:
Buy in batches around 4680-4700 on pullbacks, target 4750, 4800, with a break to watch for 4850

Disclaimer: The above analysis is for reference only and does not constitute investment advice. Operate at your own risk.