$XAUT Cherry: Afternoon gold is consolidating and building momentum, waiting for a breakout signal from the range

In the early session, gold first rose and then fell back. It briefly surged to around 4726 at the open before running into resistance and retreating. It then quickly tested the 4687 support and stabilized. Currently, it is undergoing narrow-range fluctuations around 4697, with bulls and bears locked in a stalemate, and short-term volatility has clearly narrowed.

On the news front, the market is seeing new uncertainty from the report of Trump’s visit to China. Changes in geopolitical and trade expectations affect the fluctuation of risk-aversion sentiment. Coupled with the fact that there is no other major data released during the day, overall market sentiment remains cautious, and gold’s volatility is mainly driven by technical-side adjustments and repairs.

Technically, the Bollinger Bands are narrowing. Price is trading near the middle band. 4705 above and 4687 below have formed a key short-term range. The early-session surge followed by a retreat reflects the effectiveness of resistance overhead. Stabilization at lower levels shows that support has strong follow-through. The current direction is not yet clear; wait for the breakout signal.

Recommendation: If it pulls back to around 4685-4665, you may consider taking a position. If the pullback is strong, you may consider taking a position around 4655-4635. If the price directly moves upward, you may consider taking a position around 4695. Targets are to watch for 4730 and 4750 on the upside.

Disclaimer: The above content is for market analysis reference only and does not constitute trading advice. The market carries risks; trade with caution.
#黄金