Gold stops falling and rebounds, pay attention to whether it can surge again in the evening.
After a pullback during the day, gold has gradually stabilized, with the current price returning to around 5150. From a short-term perspective, the overall rhythm leans towards oscillation and repair, with the evening more inclined to a retracement while continuing to look bullish.
The US-Iran conflict continues, and the uncertainty in the Middle East keeps market risk aversion elevated. Meanwhile, shipping in the Strait of Hormuz is affected, keeping oil prices high and supporting inflation expectations. These factors all contribute to supporting gold prices to some extent.
In the evening, pay attention to several key supports below:
Short-term support at 5140, watch for stabilization on a pullback;
The 5125-5130 area serves as the second support;
If a deep pullback occurs, around 5100 is considered a strong support zone.
The short-term target above is initially at the 5175-5185 area, and if the market strengthens, there is a chance to test the 5200 level further. $XAU
After a pullback during the day, gold has gradually stabilized, with the current price returning to around 5150. From a short-term perspective, the overall rhythm leans towards oscillation and repair, with the evening more inclined to a retracement while continuing to look bullish.
The US-Iran conflict continues, and the uncertainty in the Middle East keeps market risk aversion elevated. Meanwhile, shipping in the Strait of Hormuz is affected, keeping oil prices high and supporting inflation expectations. These factors all contribute to supporting gold prices to some extent.
In the evening, pay attention to several key supports below:
Short-term support at 5140, watch for stabilization on a pullback;
The 5125-5130 area serves as the second support;
If a deep pullback occurs, around 5100 is considered a strong support zone.
The short-term target above is initially at the 5175-5185 area, and if the market strengthens, there is a chance to test the 5200 level further. $XAU