Spot Gold April 20th Price Movement Summary



Today, spot gold opened lower, tested the bottom, experienced a V-shaped reversal, and fluctuated widely with high volatility.

- Daily Range: $4,744.47 – $4,827.14 per ounce
- Opening Price: $4,754.71 (gap down)
- Lowest Price: $4,744.47 (quick dip in the morning)
- Highest Price: $4,827.14 (rebound in the afternoon)
- Closing/Current Price: approximately $4,801.69 per ounce
- Intraday Performance: -26.52 (-0.55%)

Trend Rhythm

1. Morning: Gap down opening, quick dip to support at 4744.
2. Midday: Bottoming out and stabilizing, oscillating upward, filling the gap.
3. Afternoon: Rebounded to the intraday high of 4827, then faced resistance and declined.
4. Evening: Fluctuating around the 4800 level.

Core Reasons

- Decline: Profit-taking at high levels, dollar rebound, delayed rate cut expectations.
- Rebound: Strong support at 4740, unresolved geopolitical safe-haven demand, buying interest.

Technical Aspects

- Support: 4740–4750 zone
- Resistance: 4820–4830 zone
- Structure: High-level oscillation with a relatively strong bias, mainly trading within a range in the short term.
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