March 9, 2026 Spot Gold Evening Analysis

On March 9, spot gold experienced a V-shaped reversal during the day. It surged early in the session, then quickly plunged, touching a low around 5013. In the afternoon, buying interest at lower levels pushed a rebound, and currently, it is fluctuating around 5090, maintaining a high-level consolidation overall.

The morning decline was driven by the strengthening of the US dollar index and US Treasury yields, coupled with rising oil prices boosting inflation expectations. The market delayed expectations of Federal Reserve rate cuts, leading to a rush of profit-taking at high levels. The afternoon rebound was supported by Middle East geopolitical risk aversion and continued global central bank gold purchases, with buy orders around the 5000 level halting the decline. Tonight, there are no major data releases; focus will be on the US dollar and US Treasury movements. Expectations of rate cuts and risk aversion still dominate the bullish and bearish battles.

Gold prices broke below the 5100 level and short-term moving averages. The 4-hour MACD shows decreasing green bars, and the KDJ is oversold with a turn upward, indicating weakening bearish momentum and a need for technical correction. Strong support is seen around 5010-5000; a break below could see a move down to 4980. Resistance levels are around 5100 and 5130; a breakout above could potentially push prices back above 5150. The medium-term upward trend remains intact. In the short term, expect range-bound fluctuations. Trade cautiously, and consider taking advantage of key breakouts.

Suggestion: A light position can be added on dips around 5080-5060, targeting near 5120-5140.

The above is for personal reference only and does not constitute investment advice. Please follow the layout of Cheng Jingsheng Stone Plate for specific strategies! #XAU $XAU