4.23 Jianxi Gold Midday Wrap-Up

Gold surged sharply early this morning to 4753, then began to come under pressure and pull back; the low dropped to 4694. It’s now oscillating around 4705. Short-term price swings are especially fast, and bulls and bears are fighting fiercely.

On the news front, the market is still digesting the impact of the prior trend—geopolitical developments and policy expectations have been continuously influencing where capital goes.

Technically, after the rally and pullback, the upper band of the Bollinger Bands has started turning downward, and the middle band has also weakened. The market is leaning toward a range-bound, slightly weak trend. Right now, price is repeatedly testing around the middle band; as the session progresses, the trading range is getting narrower and narrower. In the afternoon, it will most likely choose a direction.

Trading idea: Long on dips around 4700—4680, with the first target at 4730, and then looking above 4750. #美伊二轮谈判进展 $XAUT