Everbright Futures: The temporary ceasefire is approaching, and the gold price rebound pace is slowing down

On April 20th, COMEX gold fluctuated and strengthened, closing at $4,841.0 per ounce, down 0.79%. The domestic SHFE gold night session opened slightly higher, with a slight pullback during the session, closing at 1058.68 yuan per gram, down 0.43%.
The market focused on the US-Iran conflict. U.S. President Trump said in a media interview yesterday that if the US and Iran fail to reach an agreement, he “almost certainly” will not extend the ceasefire with Iran again. The temporary ceasefire between the US and Iran will expire on the morning of April 22nd Beijing time. Before that, the market may have strong concerns, and the gold market once again showed caution, but there is also worry about another TACO. Currently, gold prices are still weaker than when the US-Iran conflict occurred, indicating the market’s cautious attitude toward a sustained rebound in gold prices, with significant disagreement between bulls and bears.
From the current overall trend of leaning towards negotiating to resolve the conflict, it may be advisable to buy on dips. However, before the outcome of US-Iran negotiations becomes clear, caution should be exercised in managing positions. (Everbright Futures)