April 20, 2026 Spot Gold Morning Analysis



Spot gold opened lower with a gap down this morning, then continued to drift lower, maintaining a short-term weak consolidation pattern; bearish sentiment has been temporarily released.

At present, the gold price is nearing the key support levels at 4770 and 4750 below. The strength of the support is gradually becoming evident. If it stabilizes and stops falling, it is expected to see a rebound and help fill the gap.

In terms of operations, it is not recommended to blindly chase shorts. Wait patiently for a stabilization signal at lower levels. It is more prudent to build long positions in batches based on support. You may buy in batches as prices pull back within the 4770–4750 range, with targets at the 4800 and 4830 levels. Strictly control position size and stop-loss, and ride the trend to capture the rebound and gap-repair market.

The above is only personal advice and is for reference only; it does not constitute investment advice. For specific guidance, please follow Cheng Jingsheng Shipán's layout! $XAU #XAU
XAU-0,24%
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