April 1, 2026 Spot Gold Evening Analysis

Spot gold in the Asian session continued its strong upward momentum, briefly reaching a daily high of $4747. It then consolidated slightly at higher levels, with the current price retreating to around $4730. Overall, the bullish trend remains intact, with the Asian session showing a strong rally followed by sideways consolidation at high levels. Bullish momentum is abundant, but short-term profit-taking pressure exists, leading to intense battles between bulls and bears at high levels.

Tonight's data releases include ADP employment, retail sales, and PMI figures, which will determine the short-term direction of gold prices.

From a technical perspective, the moving averages are aligned in a bullish configuration, and the candlestick structure is clear. Short-term support is expected around the 4700-4720 range, with resistance initially at 4740-4760.

Trading suggestions: Currently, the market is oscillating at high levels; avoid chasing the highs. The strategy should focus on buying on dips, waiting for stabilization within the 4700-4720 range before entering, with targets between 4750-4780. A breakout could lead to a move toward 4800.

These are just personal suggestions for reference and do not constitute investment advice. Please follow Cheng Jingsheng's layout for specific trading decisions!!$XAU ‌#XAU