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The market is accumulating strength amid fluctuations. Patience in waiting for signals is the only way to seize definitive opportunities.
January 20, 2026, Spot Gold Morning Review
The Federal Reserve's rate cut expectation game continues, with global central banks continuously buying gold to support gold prices; geopolitical risk aversion remains warm, and before the release of US core economic data, market trading has become cautious. Gold prices are expected to remain volatile at high levels in the short term.
Resistance above at 4690-4700, support below at 4630-4650; the 4-hour chart shows a bullish moving average alignment, with KDJ turning high, indicating a short-term pullback is needed, but the overall bullish trend remains unchanged.
It is recommended to buy on dips mainly, and be cautious about chasing highs. Enter long positions on dips to the 4650-4640 range with a stop loss below 4625, targeting 4690-4700. A break below can look for 4720.
If the price directly surges to 4690-4700 and encounters resistance, consider a light short position with a stop loss above 4710, targeting 4660-4650.
The above is only personal advice for reference and does not constitute investment advice. Investors should make their own decisions and bear the risks.