4.7 Muyao Gold Morning Outlook

Yesterday, gold opened lower and then rose, touching a low of 4600 and climbing to 4706, with nearly 100 points of daily volatility. The negative impact of non-farm payrolls combined with the holiday effect has been fully absorbed, and market pressure has significantly eased.

Currently, gold remains within an upward trend channel, and the bullish momentum has not changed, but the upward driving force has slowed, and short-term rally strength is insufficient. Support levels at 4640 and 4610 are effective. Without any major news triggers, it is likely to maintain a range-bound oscillation between 4640 and 4700.

Trading strategy: buy on dips at 4650 support, with a short-term target of breaking through 4700, and stabilize to look toward 4730.

Note:
The above analysis is Muyao's personal view. Markets are ever-changing, and this content is for reference only and does not constitute any investment advice!!