2026-01-20 00:23:27

Recently, global risk aversion sentiment has clearly increased. Frictions between Europe and the US on certain geopolitical issues have continuously pushed up market risk aversion enthusiasm, making precious metals the main safe haven for funds.

Just look at the market. Spot gold has risen 1.5% intraday, trading at $4,668.85 per ounce, with a high of $4,690.46 during the session. February gold futures also rose by 1.6%. Silver performed even more strongly, with a 3.2% increase, trading at $92.89 per ounce, with an intraday high of $94.09. It’s worth noting that silver has already gained over 30% this year, indicating that the market is indeed seeking safe-haven assets.

From a technical perspective, after gold gapped higher yesterday, it quickly surged toward 4690, but the momentum was insufficient. It then oscillated repeatedly within the 4680-4655 range, making short-term trading quite challenging. As you can see, the market is mainly digesting the safe-haven buying from the weekend; after an early rally, there’s a lack of further upward momentum. This shows that gold prices are still quite dependent on news sentiment. Once sustained positive news support diminishes, technical overbought pressures will gradually be released.

Currently, in this dilemma of upward and downward movement, the trading approach is quite clear—mainly buy on dips. Focus on the resistance zone around 4690-4700 above, and look for a retracement to 4650-4640 below. The key support level is the gap formed by yesterday’s gap opening, roughly around 4630-4620.

The trading suggestion is as follows: consider going long near 4650-4640, with the first target to see if it can break through and stabilize above 4680-4700. If it does, then aim for 4720-4750. Conversely, if the support at 4620 is broken, consider turning to short positions, with a target around 4600.

In summary, the safe-haven appeal of precious metals currently exists, but the sustainability of the trend remains to be seen. The low-buying approach is relatively safer, but caution should be exercised regarding technical overbought risks.

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MultiSigFailMaster

· 15h ago

This wave of gold's rise is a bit fake. Once the news cools down, it will drop sharply. I just want to know if the 4620 can hold...

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SchrodingerAirdrop

· 01-20 00:52

The 30% increase in silver is really outrageous, but the problem is, what should we do if the 4620 support breaks?

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SoliditySurvivor

· 01-20 00:38

Gold is jumping again, but the momentum is indeed weak. This wave is just a false fire driven by news.

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ContractBugHunter

· 01-20 00:29

Silver surged 30%, this is crazy, feels much harder than gold --- Long positions, right? Let's wait and see if 4640 can hold, otherwise it feels like it's going to drop again --- This wave reached 4690 and then lost momentum, a typical news-driven market, it's going to be tough later --- With such a strong risk aversion sentiment, it seems like there will be continued speculation in precious metals, but the overbought technicals do warrant caution --- Breaking below 4620 directly signals a bearish trend? That risk seems a bit high --- Silver is indeed strong, but whether it can sustain is the real question, it's too dependent on news --- The gap between 4630-4620 below, feels like it will be filled sooner or later

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