1.23 Gold Morning Review: Nighttime Gold Surge! Revealing the Three Main Drivers

Gold prices hit a new all-time high, market sentiment is hot, but volatility at high levels has increased. Timing precisely is key to capturing opportunities.

Last night, spot gold surged sharply, driven by a triple resonance of risk aversion sentiment explosion, a weakening dollar, and capital flocking to long positions. Coupled with the accelerated technical breakout, this directly pushed gold prices to historic peaks.

Gold prices started a unilateral rally from lows, repeatedly breaking through key resistance levels, with a high of 4940, setting a new historical high. The bullish momentum is strong. However, after reaching the new high, the K-line showed a slight pullback with a bearish candle, signaling short-term profit-taking and exit by some bulls; but the upward trend remains intact, with moving averages still arranged in a bullish manner, and the overall direction is upward. Currently, prices are approaching historical extremes, RSI is likely overbought, so caution is needed for a sharp pullback.

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Trading Suggestions: Focus on buying on dips, strictly control position sizes, set stop-losses properly, and avoid blindly chasing highs.
Buy on dips around 4910-4900 in batches, with targets at 4960—4980—5000.