6.15 Qingfeng Evening Gold Analysis

Today, London gold’s spot market surged strongly upward. In the early session, it was driven by easing Middle East tensions, quickly rallying to a high of 4345. In the afternoon, upward momentum weakened, and price consolidated in a range at high levels—an technical pause after the sharp rally.

The current overall bullish trend is stable. In the short term, the pace of upward movement has slowed, with the market building energy and waiting for another breakthrough later tonight. Overall, news flow is broadly favorable for gold prices: easing US-Iran relations have led to lower oil prices and a pullback in inflation expectations, while continued weakness in the US dollar continues to support gold. However, with the Federal Reserve rate decision approaching in the early hours of tomorrow, the market’s pursuit of longs remains cautious, limiting near-term upside.

Technically, the four-hour head-and-shoulders pattern is complete, and moving averages have formed effective support. Short-term indicators are slightly overbought, and further consolidation and correction are still needed. Key focus for tonight: strong resistance at 4370. A breakout will open new upside space; if price remains under pressure, it will likely continue the high-level rangebound consolidation. Core support lies at 4285-4290.

Trading reference: go long at 4350-4360, target 4370-4380.