The US-Iran situation is currently in a delicate phase of “talking while preparing for war.” Although the US has paused military operations and left room for negotiations, it has also made its position clear: if talks fail, strikes can be restarted at any time. This uncertainty is directly reflected in the gold market: in the short term, risk-aversion sentiment cools, causing the gold price to rise and then fall; but the risk that the conflict could flare up at any moment also tightly limits how far gold can drop.

Based on the latest developments, the core trading logic can be condensed into the following three points:

1. Short-term pressure: As the situation temporarily eases, the market’s risk-aversion premium is fading, which is the main reason the gold price has continued to face pressure after earlier spikes.
2. Beware sudden risks: Never underestimate the possibility that negotiations could break down. Once negative news emerges, risk-aversion sentiment can quickly return, and the gold price is likely to see a sharp safe-haven pulse.
3. Trading advice: Given how unpredictable geopolitical news can be, do not rely solely on the news flow to bet on a one-way move. In terms of execution, return to the price action—focus on confirming entry and exit timing by combining support and resistance signals at key technical levels. #长鑫开盘跌7.7% $XAUT