Mu Yao: Testing the lows, stabilizing and building energy; the midday consolidation leans bullish

After gold dipped to 3982 in the morning, it successfully stabilized and rebounded. In the short term, it has begun an oversold repair move, with strong support.

The U.S. dollar’s rise lacks momentum, and the downward pressure is easing. Funds are continuing to enter at lower levels. There’s no major market-moving data today, so price action is mainly driven by a technical-side long repair.

In the afternoon, trade in line with the trend by going long on pullbacks. If it retraces into the 3990–4000 range, you can place multiple orders there, targeting 4015, 4035, and 4070 in batches.

Notice:
The analysis above is my personal view. The market can change rapidly; the content is for reference only and does not constitute any investment advice!
$XAUT