Market News

Global officials collectively release hawkish tones, combined with weekend oil prices breaking the $100 mark, reigniting inflation concerns, and the market significantly downgrades the 2026 interest rate cut expectations, with the probability of maintaining interest rates unchanged this year continuing to rise. The US dollar index fluctuates and strengthens, US Treasury real yields rise in tandem, greatly weakening the appeal of interest-free gold allocations, and gold prices remain under pressure. #黄金期货
In terms of risk aversion, the US-Iran confrontation remains ongoing with stalled negotiations, but no new round of military conflict has erupted, risk aversion sentiment gradually cools, and safe-haven buying continues to retreat. Additionally, after gold prices surged to a high of 4740 earlier, many traders chose to take profits and exit, forming a continued downward momentum. #现货黄金
Technical Analysis
Early trading saw gold prices opening weak and fluctuating, with a slight rebound after testing support at 4674. On the daily chart, prices broke below the 5-day and 10-day moving averages, establishing a short-term downward pattern. The 20-day moving average at around 4690 forms a key resistance, and the weekly support at 4657 is the ultimate defensive level. #XAU
Short-term 1-hour and 4-hour charts show a weak trend, with highs continuously declining, prices moving within a downward channel, moving averages arranged in a bearish pattern, and Bollinger Bands’ middle and lower bands exerting obvious resistance, with little rebound momentum. Indicators show MACD’s red bars continuously shrinking, KDJ forming a death cross and heading downward, indicating a clear short-term downward trend. $XAU