Bearish sentiment intensifies, gold faces downward pressure

On the news front, US retail sales and initial jobless claims data are generally strong, reinforcing expectations that the Federal Reserve will maintain high interest rates. The dollar index strengthens, directly suppressing gold prices from rising; market expectations for rate cuts are delayed, and funds continue to flow out of precious metals, putting pressure on gold prices. Meanwhile, risk aversion sentiment cools down, and long positions take profits, further accelerating the correction.

On the technical side, at the 4-hour level, gold prices break below the middle band of the Bollinger Bands, trading below the middle band; the KDJ indicator shows a death cross downward, and bearish momentum continues to expand, indicating a short-term weak trend.

Suggestions:
Pull back around 4680-4700 in batches, target 4630, 4600, with a break below looking at 4570

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