Gold attempts recovery above $4,400 early Friday after testing the $4,350 support area on Wednesday.
The US Dollar cheers risk-off flows as fears over an imminent US ground invasion in Iran persist.
Gold remains a ‘sell the bounce’ trade amid the bearish RSI and Bear Cross on the daily chart.
Gold reverses a part of the previous decline early Friday, taking on the $4,400 level once again. Despite the rebound, the bright metal remains on track to book its fourth straight weekly loss.
Gold remains vulnerable from a broader perspective as the USD continues to ride higher on the safe-haven demand amid looming risks of a US ground military operation on Iran’s Kharg Island as early as this weekend.
This comes after the Wall Street Journal reported late Thursday, citing defence department officials with knowledge of the planning, the Pentagon is looking at sending up to 10,000 additional ground troops to the Middle East to give US President Donald Trump more military options even as he weighs peace talks with Tehran.
Amid a divide on both sides over a de-escalation, investors remain on edge even though Trump announced that he will extend the pause on his threat to attack Iran’s energy infrastructure for 10 days until 6 April.
However, markets fail to buy Trump’s words, anticipating that the war is unlikely to end anytime soon.
That said, concerns over higher-for-longer Oil prices and rising inflation prospects have priced out a US Federal Reserve interest rate cut this year, keeping the USD supported while acting as a headwind for the non-yielding Gold.
Looking ahead, Gold could see some short-covering heading into the weekend, and following a roughly 20% decline since the war broke out on February 28. The end-of-the-quarter flows.
每日技術分析
The near-term bias is mildly bearish as price extends its decline below the 21-day and 50-day SMAs, with the faster average now turning lower and the intermediate one flattening. This configuration suggests sellers are gaining control after a failed attempt to sustain the earlier uptrend. The 100-day and 200-day SMAs continue to rise well beneath spot, signaling that the broader trend remains up, but their distance from current price highlights the depth of the ongoing correction. The RSI at 32 hovers just above oversold, indicating persistent bearish momentum with scope for further downside before a more meaningful rebound emerges.
Initial resistance is now seen near the 21-day SMA around $4,900, where a recovery would first confront dynamic selling pressure, followed by the 50-day SMA close to $4,960. A daily close above this latter barrier would be needed to ease the current bearish tone and open the way toward the $5,100 area. On the downside, immediate support emerges at the recent lows around $4,400, with a break below exposing the rising 100-day SMA near $4,630 as the next significant downside objective. A sustained drop toward that average would deepen the corrective phase, while failure to reach it and a bounce from the $4,400 region would signal that dip buyers are starting to defend the longer-term bullish structure.
黃金反彈，但在中東戰爭的影響下，將錄得第四週跌幅
Gold reverses a part of the previous decline early Friday, taking on the $4,400 level once again. Despite the rebound, the bright metal remains on track to book its fourth straight weekly loss.
Gold remains vulnerable from a broader perspective as the USD continues to ride higher on the safe-haven demand amid looming risks of a US ground military operation on Iran’s Kharg Island as early as this weekend.
This comes after the Wall Street Journal reported late Thursday, citing defence department officials with knowledge of the planning, the Pentagon is looking at sending up to 10,000 additional ground troops to the Middle East to give US President Donald Trump more military options even as he weighs peace talks with Tehran.
Amid a divide on both sides over a de-escalation, investors remain on edge even though Trump announced that he will extend the pause on his threat to attack Iran’s energy infrastructure for 10 days until 6 April.
However, markets fail to buy Trump’s words, anticipating that the war is unlikely to end anytime soon.
That said, concerns over higher-for-longer Oil prices and rising inflation prospects have priced out a US Federal Reserve interest rate cut this year, keeping the USD supported while acting as a headwind for the non-yielding Gold.
Looking ahead, Gold could see some short-covering heading into the weekend, and following a roughly 20% decline since the war broke out on February 28. The end-of-the-quarter flows.
每日技術分析
The near-term bias is mildly bearish as price extends its decline below the 21-day and 50-day SMAs, with the faster average now turning lower and the intermediate one flattening. This configuration suggests sellers are gaining control after a failed attempt to sustain the earlier uptrend. The 100-day and 200-day SMAs continue to rise well beneath spot, signaling that the broader trend remains up, but their distance from current price highlights the depth of the ongoing correction. The RSI at 32 hovers just above oversold, indicating persistent bearish momentum with scope for further downside before a more meaningful rebound emerges.
Initial resistance is now seen near the 21-day SMA around $4,900, where a recovery would first confront dynamic selling pressure, followed by the 50-day SMA close to $4,960. A daily close above this latter barrier would be needed to ease the current bearish tone and open the way toward the $5,100 area. On the downside, immediate support emerges at the recent lows around $4,400, with a break below exposing the rising 100-day SMA near $4,630 as the next significant downside objective. A sustained drop toward that average would deepen the corrective phase, while failure to reach it and a bounce from the $4,400 region would signal that dip buyers are starting to defend the longer-term bullish structure.
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