Golden Super Bull Market Breaks Records Again! The Battle for the 4500 Mark is About to Begin

The momentum of the golden super bull market is surging. On December 23, during the early session in Asia, spot gold continued its strong upward trend, reaching a new historical high of 4485 USD/ounce, just one step away from the 4500 USD mark, and the battle is about to commence.

The driving force behind this round of skyrocketing prices is substantial. On December 22, London gold was catalyzed by the escalation of the US-Venezuela situation and expectations of a Federal Reserve interest rate cut, soaring over 2% in a single day, once again hitting a historical peak. As a core global safe-haven asset, under the backdrop of intensifying geopolitical conflicts and rising economic uncertainties, gold's safe-haven attributes and value storage functions have become increasingly prominent, making it a core target for capital.

From an annual performance perspective, under the triple resonance of global central bank gold purchases, continuous inflow of safe-haven funds, and a low-interest-rate environment, international gold prices have risen over 70% this year, marking the largest annual increase since 1979. With global risks still looming, gold's core safe-haven status will continue to solidify. Going forward, it is crucial to closely monitor the dynamics of Federal Reserve policies and the progression of geopolitical conflicts to seize layout opportunities in the super bull market.

Technical Analysis: Bullish Trend Dominates, High Momentum with No Reversal Signals

The bullish trend in gold shows a dominating continuation, and going with the trend remains the core trading strategy:

• The daily chart shows a large bullish candlestick with increased volume, once again hitting a historical high. The MA7 and MA10 daily moving averages have crossed upward, rising to the 4360 and 4335 range, with prices steadily operating above the upper Bollinger Band, and the RSI indicator reaching a high of 80, showing significant strength;

• On shorter time frames like the hourly and 4-hour charts, although the RSI indicator has entered the overbought zone, prices have broken through the upper Bollinger Band, and the moving average system maintains a bullish divergence. Bullish momentum remains strong.

Currently, there are no obvious signs of a market correction, and a top formation has not yet occurred, so there are no conditions to catch a top. However, caution is warranted as prices are at historical highs, and chasing higher prices poses a short-term pullback risk; aggressive buying is not recommended. Key focus today is on the support strength near last night's low point around 4430 during the US session. Relying on this support level to position for low-risk long trades is safer.

Trading Ideas

• Short-term long position: Enter the 4440-4445 range, stop loss at 4415, target directly at the 4500 mark, and continue to look at 4530 after breaking;

• Short-term short position: Enter the 4525-4530 range, stop loss at 4550, with a target below at 4450-4420.