2026-03-30 23:00:48

Spot Gold Analysis for March 31, 2026

On March 30, gold generally rebounded after testing lows. In the early trading session, prices quickly dipped to around $4418, with bears briefly gaining momentum; then the market halted its decline and rebounded, moving higher in the afternoon with volatility, and continued to rise into the evening, breaking above the $4500 level. It finally closed near $4515, erasing the day's decline and posting a slight gain. This is a classic V-shaped reversal, with strong bullish recovery.

The news mainly revolves around Federal Reserve policies. Yesterday, Fed officials signaled dovish intentions, mentioning expectations of rate cuts within the year, which directly pressured the dollar and U.S. Treasury yields, supporting gold prices. Additionally, last night’s U.S. initial jobless claims data was weaker than expected, providing a slight positive boost to gold. Today, focus will be on Powell’s congressional speech, as the market awaits clear signals of rate cuts. His speech is likely to cause significant volatility in gold prices, representing today’s biggest risk.

From a technical perspective, gold prices have quickly regained strength in the short term, currently holding above the key level of $4500. Short-term moving averages are turning upward, with bulls dominating. Support levels are seen at $4480-$4450; as long as this zone holds, the market is unlikely to weaken. Resistance is first at $4550; a breakout could lead to further gains toward around $4580.

Currently, gold is experiencing a strong oscillation. In trading, focus on maintaining support at $4500 with a long bias, targeting $4550-$4580-$4600. Stop-loss should be placed around $4490. If prices unexpectedly fall below $4500, consider shifting to a short position for a rebound. Keep trading positions small, strictly adhere to stop-losses, and avoid sudden moves caused by Powell’s speech.

The above is for personal reference only and does not constitute investment advice. Please follow Cheng Jingsheng’s layout for specific strategies!!$XAU ‌#XAU

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