Yichen: Precipitous plunge! Gold breaks through key support, short-sellers' feast begins!

From a news perspective, Federal Reserve Chairman Powell's latest statement reinforces the position of "no rate cuts before inflation falls back," coupled with U.S. core inflation data exceeding expectations. The market is reassessing the monetary tightening path, with U.S. Treasury yields and the dollar index strengthening in sync, directly suppressing the valuation of interest-free assets like gold. Meanwhile, although Middle East geopolitical conflicts continue to develop, safe-haven funds have shifted from gold to high-yield U.S. Treasuries. SPDR Gold ETF has seen continuous daily net outflows, and institutional profit-taking at highs has intensified selling pressure.

From a technical perspective, gold price has broken below the lower Bollinger Band, MACD green columns continue to expand, and the four-hour trend is clearly bearish. In the short term, the 4450-4470 USD range will become key support. If it breaks effectively, gold may further explore 4300 USD; if it stabilizes on rebounds, pay attention to resistance near 4600 USD.

Suggestions:
Sell in batches near 4520-4550 rebounds, targets at 4450, 4400, if broken look toward 4300.

Disclaimer: The above analysis is for reference only and does not constitute investment advice. Risks undertaken by acting on this are your own responsibility. $XAU