From a news perspective, Federal Reserve Chair Powell's latest remarks reinforce the stance of "not easing rates before inflation falls," combined with US core inflation data exceeding expectations, the market is re-pricing the monetary tightening path. US Treasury yields and the US dollar index are rising in tandem, directly suppressing the valuation of non-yielding assets like gold. Meanwhile, although Middle East geopolitical conflicts continue to simmer, risk-off funds have shifted from gold to high-yield US Treasuries. The SPDR Gold ETF has experienced continuous net outflows over multiple days, and profit-taking by institutions at elevated levels has intensified selling pressure.
From a technical perspective, gold prices have broken below the Bollinger Band lower track, MACD green columns continue to expand, the four-hour trend is clearly bearish, and the 4450-4470 USD range in the short term will become key support. If broken effectively, gold prices may further test 4300 USD; if it stabilizes after stopping the decline, watch for rebound resistance near 4600 USD.
Suggestions: Sell in batches near the 4520-4550 rebound, targeting 4450, 4400, if broken look at 4300.
Disclaimer: The above analysis is for reference only and does not constitute investment advice. Operate at your own risk. $XAU
Yichen: Cliff Dive! Gold Pierces Key Support, Bears' Feast Begins!
From a news perspective, Federal Reserve Chair Powell's latest remarks reinforce the stance of "not easing rates before inflation falls," combined with US core inflation data exceeding expectations, the market is re-pricing the monetary tightening path. US Treasury yields and the US dollar index are rising in tandem, directly suppressing the valuation of non-yielding assets like gold. Meanwhile, although Middle East geopolitical conflicts continue to simmer, risk-off funds have shifted from gold to high-yield US Treasuries. The SPDR Gold ETF has experienced continuous net outflows over multiple days, and profit-taking by institutions at elevated levels has intensified selling pressure.
From a technical perspective, gold prices have broken below the Bollinger Band lower track, MACD green columns continue to expand, the four-hour trend is clearly bearish, and the 4450-4470 USD range in the short term will become key support. If broken effectively, gold prices may further test 4300 USD; if it stabilizes after stopping the decline, watch for rebound resistance near 4600 USD.
Suggestions:
Sell in batches near the 4520-4550 rebound, targeting 4450, 4400, if broken look at 4300.
Disclaimer: The above analysis is for reference only and does not constitute investment advice. Operate at your own risk. $XAU