Enze: The Strait remains semi-open, gold turmoil is reigniting, and the good show is yet to come

The Strait of Hormuz is currently semi-open, and the Middle East situation is stirring again, with the old family of Trump once again making a fortune. The US-Iran conflict is far from over, with deep-rooted core interests on both sides; even a brief ceasefire leaves consensus fragile as paper, and this tug-of-war is destined to be prolonged.
The two-week temporary ceasefire earlier did not ignite market enthusiasm. Whether it’s crude oil, US bonds, or gold, the trends are restrained and sentiment is rational, with no signs of reckless chasing of highs, and funds are cautiously observing, waiting for clearer signals.
Yesterday morning, I clearly pointed out: once the 4800 level is broken, gold prices are likely to retreat to around 4700. Today’s market movement has confirmed this judgment perfectly. Currently, gold is in a volatile upward pattern, not a one-sided squeeze, and a phased correction is normal in the market.
This is also what I repeatedly emphasize: waiting for a big rally before blindly chasing in will likely lead to being passive and trapped. Especially with the CPI data to be released this Friday, market sentiment will become more cautious, and short-term fluctuations will mainly be wide-ranging.
At this stage, gold does not face substantial bearish pressure, but there are also no major positive news to trigger a bullish surge. Market funds find it difficult to form a consensus force, naturally preventing a sky-high one-sided rally. Overall, it continues to move in a pattern of oscillating upward and repeatedly shaking out traders.
Reminder:
The above analysis is Enze’s personal view. The market changes rapidly, and the content is for reference only. It does not constitute any investment advice!
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