Thursday, April 23 Morning Session

Last night, $XAU continued to adjust, falling from a high level to around 4710 during the session, forming a relatively long lower shadow, indicating that short-term bullish momentum has weakened, but overall it remains oscillating above 4700, not breaking the previous low of 4668, which is a secondary correction after last night's sharp decline.
On the news front, Iran-U.S. peace talks have stalled, geopolitical tensions persist, and although oil prices responded mildly, gold still received some support as a safe-haven asset; meanwhile, rising U.S. yields put pressure on gold prices, as the market balances between risk and safety.
Technically, the MA5/10/20 are close to converging, the middle band of the Bollinger Bands has moved down to 4725.83, the price broke below short-term moving averages and tested the lower Bollinger Band, the MACD death cross continues, indicating a short-term bearish bias, but the key support zone is between 4710-4719; holding this level increases the probability of a rebound.
Trading idea: In the short term, consider lightly trying long positions around 4690-4710, with a stop loss below 4680, targeting 4735-4750.