Gate's loyal friends, tonight's gold move is just too exciting!

In the afternoon, I was worried it would continue to decline, but as soon as the PCE data was released, XAU directly performed a "deep V reversal"! From 4370 (200-day moving average) skyrocketing all the way to above 4500, a 13-hour surge of over 3%, with a volatility of over 130 USD, even more intense than many altcoins!
Why did it suddenly take off?
1. The bears were too greedy, and the major players precisely harvested everyone. Everyone was waiting for a further drop to 4300-4370, but the main force directly pushed from the 200-day moving average, triggering a classic short squeeze, taking the bears out in one wave.
2. U.S. economic data underperformed, with dovish rate cut expectations reigniting, weak consumer spending + rising initial jobless claims, signaling stagflation with high inflation + economic cooling again. The Federal Reserve is caught between a rock and a hard place, and the safe-haven + anti-inflation properties of gold are immediately ignited.
Did you eat the meat in this wave? Those who went long near 4370 should be already feeling great now, right?
BTC also seems to have stabilized after stopping the decline, with gold leading the charge. Can Bitcoin follow along and create an anti-inflation rally together?
Next strategy: Currently, 4500 is a short-term strong resistance level, don’t chase blindly. I personally think a pullback to around 4450-4470 is a good low-entry opportunity.
If you think this wave can break new highs and continue to surge, press 1.
If you think it’s just a “false breakout” and will retrace, press 2.
Loyal friends, come vote and leave your positions and opinions! $XAU #24h加密合约清算破4亿美元