2026-01-19 17:20:42

Gold today fluctuated around 4675, spiking to 4690 in the morning before cooling off, then retreating to around 4653. It is now mostly oscillating between 4650 and 4680. The US stock market is closed today, and market enthusiasm is lacking. This narrow trading range may seem a bit dull, but it actually indicates that the bulls are digesting previous profit-taking and are preparing for the next upward wave.

From a fundamental perspective, the US dollar index continues to weaken, and safe-haven sentiment due to geopolitical tensions is rising. These two factors are the main drivers behind this round of gold price rally. Additionally, the latest US PPI data came in higher than expected, indicating persistent inflation, which has pushed back expectations of Fed rate cuts and provided stronger support for gold prices.

The key point is to hold the 4640 level. As long as it is not broken, the bullish momentum will remain intact. The trading strategy is simple—avoid chasing highs, wait for a pullback to the 4650-4660 zone to enter long positions, with a stop loss below 4640. The short-term target is first to break 4700; if it can stabilize above that, the next target could be above 4730. Moving forward, focus on the US dollar trend and geopolitical news changes, and follow the trend for the most stable operation.

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LiquidatedNotStirred

· 9h ago

Narrow-range fluctuations are building up momentum. This wave makes sense; the key support at 4640 must not be lost.

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NftDeepBreather

· 9h ago

This wave of gold price fluctuations is indeed dull, but I think the author's analysis is a bit too optimistic. Saying that 4640 won't be broken is too absolute; geopolitical shifts can reverse the trend in minutes.

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ChainWallflower

· 9h ago

Narrow-range fluctuations are just accumulation; this wave of gold prices will definitely continue to surge upward, and 4700 is not a dream.

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GoldDiggerDuck

· 9h ago

Narrow-range oscillation is just building up energy, I agree with this logic. As long as 4640 holds, it's stable. Waiting for a pullback to 4650 before entering won't be a loss. It's basically waiting for the dollar to fall a bit more. The geopolitical tensions have already been priced in, now it's just about whether we can break through 4700. Repeatedly testing 4675 indicates there is indeed some resistance here, but I don't think it will break below 4640. I believe it's not a big problem. The US stock market being on holiday is a bit annoying; with fewer people, the market feels dull. This kind of market tests patience the most. Chasing the high is just asking for trouble. It's more reliable to wait patiently for a pullback before entering. PPI is still a bit high. The Fed must be worried about inflation stickiness, which actually benefits gold prices. If 4700 can hold steady, it would be bullish. Then 4730 won't be far off.

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