Evening Session Layout: Gold Rebounds from the Bottom, Good Opportunity for Long Positions

Hello everyone, I am Gold Miner Lao Mao. This morning, gold opened with a sharp surge, rising from around 4617 all the way up to 4690, with a daily increase of over 1.6%. Many friends didn't have time to get on board and missed out on this rapid rally. Currently, the price is fluctuating narrowly around 4670, in a high-level consolidation stage, waiting for the next directional move.

On the news front, recent ongoing geopolitical tensions combined with rising market expectations of Fed rate cuts have jointly driven safe-haven buying in gold. Today's morning surge is a reflection of funds reacting in advance to these positive factors. If geopolitical risks further intensify or expectations of rate cuts strengthen, gold may break through previous highs and challenge the 4700 level.

Technically, the 5-minute chart shows that the rapid rally in the early session has been completed, and the price is now in a high-level oscillation and correction phase. From volume and indicators, short-term pullback demand is accumulating. The key support zone below 4655-4645 is crucial after today's rally, and it is also a previous dense trading area with strong buying support. It is expected that after pulling back to this zone, the price will rely on support to move higher again, with the initial target at the previous high of 4690. If a clear breakthrough occurs, the upward momentum will continue toward the 4700 level.

In terms of trading strategy, the evening session should focus on low-position longs. It is recommended to enter long positions in batches within the 4655-4645 range, with a stop loss below 4640. The initial target is the previous high of 4690; if broken, the target shifts to the 4700 level.