12.24 Zheng Chen's Midday Thoughts

This round of gold price strength is supported by three resonant logics: the expectation of the Federal Reserve's interest rate cuts in 2026 is heating up, geopolitical risks are continually fermenting, and the central banks along with ETFs are consistently increasing their holdings, highlighting the value of gold allocation. The technical bullish pattern is solid, with MA60 (4400) providing strong support, daily MACD golden cross momentum continuing to expand, and the hourly top divergence not hindering the upward trend.

As Christmas approaches, market liquidity is tightening, the probability of a substantial pullback is low, and high-level fluctuations upward remain the main tone.

Operational Suggestions: Go long in the 4470-4475 range, add positions in batches at 4445-4450, with a target of 4520-4525.