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4.17 Gold Morning Outlook
Today’s early trading saw gold fluctuate and consolidate at high levels, with geopolitical risks easing overnight, combined with the Federal Reserve’s dovish rate cut expectations, causing gold prices to slightly come under pressure and retreat, currently quoted around 4795. In the short term, there is no clear directional trend, and trading should focus on range-bound swings.
The daily chart remains sideways at high levels, with a small bearish candle yesterday, indicating a relatively balanced struggle between bulls and bears. The overall upward channel remains intact, and the medium-term bullish structure has not been broken. The short-term upward momentum has slowed, which is a normal correction during an uptrend.
On the news front, tensions in the Middle East continue to ease, and risk aversion sentiment is gradually declining; US inflation data shows a relatively strong performance, and the market remains cautious about the Federal Reserve’s pace of rate cuts, which temporarily suppresses gold prices.
Trading suggestion: Go long within the 4760-4790 range with stability, targeting 4820-4850, and look for a breakout above 4900.