Risk aversion sentiment triggers a double resonance, accelerating the rally in precious metals.

The ongoing escalation of the Iran situation has raised concerns over Middle East geopolitical risks, putting pressure on oil supply expectations; coupled with doubts about the Federal Reserve's policy independence, market risk sentiment has significantly rebounded. Two risk-averse forces converge, and funds are pouring into precious metals for safe-haven. Spot gold has strongly broken through the $4,630 level, hitting a new all-time high, with a daily increase of 2.4%.

From the chart perspective, the rise in gold is not a fleeting phenomenon. Previously, the $4,550 level served as a key support, successfully transforming into a pivot for an upward trend. During yesterday's trading session, gold prices decisively broke through the 4600 integer level, fully establishing the dominance of the bulls. Investors who went long at the 4580 level have already secured profits, marking a good start to the year.

Technical signals are clear. The 30-minute moving averages maintain a golden cross, with a complete bullish arrangement. After consolidating within the ascending triangle, accompanied by moderate volume expansion, the upward breakout space has opened. From this perspective, the continuation of the bullish trend is worth expecting.

In terms of trading strategy, consider gradually entering long positions in the 4570-4578 range. Set stop-loss below 4555 for risk control. Short-term targets are aimed at the 4630-4650 zone, with a recent breakout potentially leading to further testing of upside space.