April 23, 2026 Spot Gold Morning Analysis

Good morning everyone! After the market opened today, gold saw a slight pullback and is currently trading sideways around 4744. Overall, it is still in the recovery phase following the previous sharp drop, and the struggle between bulls and bears is relatively intense.

On the news front, U.S. Treasury yields have continued to remain at high levels, weighing on gold prices. On top of that, the U.S.-Iran situation has been fluctuating repeatedly, causing risk-off sentiment to strengthen at times and weaken at others—at least for now, it is difficult for the short-term market to break out into a clear one-way trend.

From a technical perspective, 4700 below is the key support. Once it is lost, gold is likely to weaken further. Resistance is strong in the 4770-4780 range; if prices rebound up to this area, they are likely to face pressure and pull back.

In terms of trading, it is suggested to trade around the 4700-4780 range—sell at the high end and buy at the low end. If the price retraces back to 4700-4710 and stabilizes, you may consider entering a small long position, with targets at 4750-4770. If the rebound meets resistance above 4770, you may consider a short position opportunistically, with targets around 4750 and 4730. Be sure to set stop-losses strictly, control your position size before data releases, and do not blindly chase orders.

The above is only my personal advice, for reference only, and does not constitute an investment basis. Please refer to Sister Lin’s Shipanyuan layout for the specifics! $XAUT $BTC