7.7 Gold Strategy Midnight Review: Gold Reverses V-Shape Then Plunges! 60-Point Gain Erased in Half a Day, 4150 Becomes the Bull-Bear Lifeline

Gold experienced an extreme roller-coaster session today. During the Asian session, it oscillated and drifted lower, hitting an intraday low of 4116 at midday before stabilizing. In the European and U.S. sessions, bulls staged a strong counterattack, rallying straight up to a high of 4180, with a maximum single-day rebound of over 60 points. In the late session, profit-taking intensified, leading to a sharp sell-off, erasing nearly half of the gains in half a day.

From a news perspective, repeated revisions in expectations for the Fed's rate-cut path, combined with a temporary escalation in geopolitical risk aversion, jointly supported gold prices. The U.S. dollar index fluctuated widely during the day, with speculative funds moving in and out of the gold market quickly, directly amplifying the volatility of short-term movements.

From a technical standpoint, on the 15-minute chart, prices surged above the upper Bollinger Band before quickly pulling back, with short-term moving average support failing. The 4180 level has formed strong resistance, while the 4130-4116 range serves as a key support zone. The MACD red bars are continuously contracting, indicating a need for a short-term pullback and repair.

Trading reference: Sell on rallies in the 4160-4180 range in batches, targeting 4130 and 4100. $XAUT