#Gate13周年现场直击 April 22 Gold and Silver Analysis: Bears Have Never Been Absent, Just Late

Market Review
On April 22 local time, in response to Trump’s statement about extending the ceasefire period, Iran’s state television announced that Iran has become the victor on the battlefield. Controlling the Strait of Hormuz is a highly valuable bargaining chip Iran has gained in this war. Iran agrees to a pause in military combat, but the war is not over yet.
U.S. Vice President Vance initially planned to go to Pakistan to restart negotiations with Iran, but Tehran refused to send representatives, citing unreasonable demands from the U.S. side. Iran’s semi-official Tasnim News Agency reported that the prospects for Iran’s participation in negotiations are currently bleak.
New Chairman Vosh stated: monetary policy remains independent, Trump never asked me to promise a rate cut, fighting inflation is the Federal Reserve’s top priority, and this is a hawkish statement.
On Tuesday, the dollar index fluctuated upward intraday, with increased volatility during the U.S. session, ultimately closing up 0.35% at 98.38; the benchmark 10-year U.S. Treasury yield closed at 4.299%, while the 2-year Treasury yield, sensitive to Federal Reserve policy rates, closed at 3.779%.
Gold: After opening on Tuesday, gold slightly surged, reaching a high of $4,833, perfectly filling the gap before continuing to decline. The Asian session saw a low of $4,774, followed by a rebound, but the momentum was weak, remaining below $4,800. During the European session, it touched a low of $4,772 with a weak rebound, still below $4,800. In the U.S. session, it surged to $4,798 with weak oscillation, then, influenced by speeches, experienced a bearish waterfall, with the lowest point at $4,680 in the early morning, closing at $4,719, forming a medium-length bearish candle on the daily chart.
Today’s View
The medium-term correction for gold has not ended yet, and a second retest is about to begin. The bearish candle from the previous trading day is basically confirmed, and next we will see where the pullback goes and what the structure of the correction looks like.
This retracement level targets a correction of the wave from $4,099 to $4,891, at least retracing to $4,590. The remaining levels are still $4,500 and $4,410, with a strong move possibly down to $4,280 or even lower. This is the outlook for the coming period.
Returning to intraday trading, after touching $4,670 in the early morning, gold rebounded above $4,700. The short-term correction of the rebound has begun. The key resistance is in the $4,750–$4,760 area, which is the place to consider short positions intraday. Support levels are at $4,700 and $4,680. Currently, long positions are not considered; continue with a bearish outlook. Volatility is increasing, and more timely market analysis will be shared internally.
Silver: Silver has currently broken below $77.9. The next move is to follow gold’s rebound to the $77.9–$78.5 zone and look for short opportunities, with a further pullback targeting $75–$73.
These views are for reference only! Trade at your own risk! Investment involves risks; please trade cautiously.