Bole's Overall Analysis as of 4.17

1. Today's Market: Slight decline from high levels, narrow fluctuations
• London Gold Spot: $4,781.86 per ounce, down $9.61 (-0.20%)
Intraday: Fluctuating between $4,767 and $4,800
2. Core Reasons (Bull-Bear Tug-of-War)
• Bearish Pressure:
◦ Fed rate cut expectations delayed, the dollar and U.S. Treasury yields remain strong
◦ Signs of easing in Middle East negotiations, risk aversion cooling down
◦ Heavy selling pressure in the $4,800–$4,840 range, multiple attempts to push higher then retreat
• Bullish Support:
◦ Global central banks continue to buy gold, providing a bottom support
◦ Middle East situation not fully clarified, risk aversion persists
◦ Support at $4,760–$4,770 is strong, limited downside potential
3. Technical Outlook
• Daily Chart: Bullish structure intact, but momentum weakening
• Short-term: Fluctuations between $4,760 and $4,800
◦ Support: $4,760–$4,770
◦ Resistance: $4,800–$4,810
4. Brief Market Outlook
• Short-term (1–3 days): Mainly high-level consolidation, difficult to see large gains or losses
Break above $4,810 indicates strength; below $4,760 suggests further correction
• Mid-term: Depends on the Fed rate cut pace and Middle East situation
Before rate cuts materialize, likely to see wide-range fluctuations between $4,650 and $4,850.