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International gold pulled back as expected yesterday, with the daily chart recording a solid long bearish candlestick that completely engulfed the previous bullish candle. Although the U.S. CPI and nonfarm payrolls data had previously both shown bullish signals, bullish momentum in gold prices remained weak, and multiple attempts to test the 4,450 level failed to break through effectively, highlighting significant overhead pressure. Meanwhile, the Bank of Japan implemented a rate hike, triggering a major influx of market funds into yen assets. The commodities sector as a whole came under selli

Gold fell as expected yesterday, with a large bearish daily candle engulfing the bullish candle. Even though the previous Nonfarm Payrolls and CPI data were favorable, gold prices still failed to break through the 4450 high resistance, showing insufficient bullish momentum. In addition, the Bank of Japan raised interest rates, funds flowed into the yen, and commodities broadly weakened. With both fundamentals and technicals turning bearish, the decline is continuing, and a sufficient base must be formed before a rebound becomes possible.
Short-term resistance is at 4385 to 4397, with strong re

Yesterday, gold fell under pressure as expected, with the daily chart posting a large bearish candle that directly engulfed the previous day’s bullish candle body. Although the CPI and nonfarm payrolls data had successively released bullish signals, gold prices failed to break through the key resistance level at 4450 despite multiple attempts, and upward momentum had already weakened considerably. In addition, the Bank of Japan officially began raising interest rates, prompting a substantial flow of funds back into the yen, while commodities broadly came under pressure for a correction. The ne