Gold Briefing for April 9



On Thursday morning in the Asian session, spot gold slightly retreated to around 4690. In the short term, gold prices are fluctuating, with medium- to long-term support from geopolitical tensions and Fed rate cut expectations still providing room for upside. Focus on US inflation data and US-Iran negotiations progress.

Gold prices have pulled back from nearly three-week highs, driven by market reassessment of the ceasefire agreement and Fed policy impacts. Geopolitical risks still exist, and inflation decline may be a temporary phenomenon.

From a technical perspective, the overall trend is bullish, with the daily chart holding above moving averages, RSI in normal range without overbought signals, and strong support at 4600. The 4-hour chart shows oscillating upward movement, with short-term pullbacks being minor corrections. The 1-hour chart indicates a short-term weakness, representing a technical pause.

Key levels:
Support at 4680, 4600; resistance at 4860, 4920.

Trading suggestions:
Focus on short-term rebounds for selling high and dips for buying low. Watch for resistance at 4750-4800 and support at 4650-4600, adjusting according to individual positions and risk management.
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